Green technology investments fall around the worldJanuary 17, 2014
Investments in clean technology are diminishing globally
The United Nations has released data concerning investments in green technology. According to this data, investments are dropping quickly across the entirety of the renewable energy spectrum. The exact reason behind this drop in investments is, of course, multi-faceted and involves the economic fragility in Europe and other countries as well as shifting political positions on the issue of climate change. According to the United Nations, if investments in clean technology do not quadruple within the coming years, there may be no way to avoid the environmental impact associated with climate change.
Global investments fall by 12% in 2013
Data from the United Nations shows that global investments in green technology have fallen by 12% in 2013, the second year in which a decline has been recorded. According to a recent report from Bloomberg New Energy Finance, some $254 billion in investments were made last year, well below the $1 trillion mark that investments had regularly reached in previous years. The United Nations has issued a call for more investments in clean technology, suggesting that action must be taken in order to avoid the more catastrophic consequences associated with climate change.
Economic crisis in Europe makes investors wary of clean technology
Investments have dropped most significantly in Europe despite the European Union’s apparently strong focus on renewable energy. This is likely due to the ongoing sovereign debt crisis that has created a turbulent economic environment throughout the region. Many countries are still struggling to find some semblance of economic stability and have been unable to pursue clean technology as aggressively as they had done in the past. The economic climate in Europe remains somewhat problematic, which has contributed to a decline in investment activity.
US shows more favor for fossil-fuels than clean power
In the U.S., clean energy investments have dropped by approximately 8%.The country is primarily focused on fossil-fuels, with a particularly aggressive interest in natural gas. Other forms of renewable energy have drawn the attention of the federal government, but investments remain somewhat mild due to the uncertain nature of the government’s support for clean power.