China invests double in clean energy over US; Turkey leads growth

China invests double in clean energy over US; Turkey leads growth

China led the world with its investments in clean energy, laying out 34.6 billion dollars compared to only 18.6 billion dollars in the United States in 2009, a study said Thursday.

But Turkey led the world in boosting such investments. The increase was 178 per cent over five years, dpa reported.

The non-profit Pew Charitable Trusts also found that global clean energy investments had soared 230 per cent since 2005, and were headed to reach 200 billion dollars in 2010.

The trends were reported in "Who's Winning the Clean Energy Race?" which studied everything from venture capital, initial public offerings, mergers and acquisitions to lending for large-scale projects.

The study found that China was leading for the first time among G- 20 leading and emerging industrial countries in clean energy investments.

In terms of rate of growth in such investments over the recent five-year period, Turkey topped the list (178 per cent) followed by Brazil and China (148 per cent each); Britain (127 per cent); Italy (111 per cent); US (103 per cent); France (98 per cent); Indonesia (95 per cent) and Mexico (92 per cent).

"Accounting for more than 90 per cent of worldwide finance and investment, G-20 countries dominate the clean energy landscape," the report said in its executive summary.

There was a decline of 6.6 per cent in investments in 2009, but the researchers found that was not bad considering the year marked the worst financial downturn in over half a century.

Many countries prioritized clean energy within economic recovery funding, the report noted.

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