Emerging economies surpassed wealthier nations in renewable energy investments in 2015, with India and China leading the charge, a United Nations-backed report has said. According to the Global Trends in Renewable Energy Investment 2016 by the United Nations Environment Programme, the so-called developing world including India, China and Brazil committed $156 billion to renewable energy sources in 2015, up 19% from the previous year. Investments by the developed countries were down 8%, PTI reported.
China made the highest commitments, putting in $102.9 billion, which accounted for more than a third of the global input. India was among the top 10 investors, putting in $10.2 billion, 22% more than the previous year. Other countries with high investments included US, Japan, UK, Brazil, South Africa, Mexico and Chile. Investment in Europe was down by 21%, its lowest figure in nine years.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!