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.
Buy an annual Scroll Membership to support independent journalism and get special benefits.
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!