China replaces the US as the leading investor in renewable energy technology. This is according to Pew Charitable Trusts’ new study that ranks China investing $34.6 billion in 2009. This is almost two times the investment amount as US. Rounding off the top five spots for clean tech investment include the UK, Spain and Brazil, respectively. Pew does note that even despite the global recession, global investment in renewable technology has more than doubled over the last five years. South Korea alone posted a 250 per cent increase in this period.
An article from BBC news quotes Phyllis Cuttino, director of Pew’s climate change movement as saying, “They know that investing in clean energy can renew manufacturing bases, and create export opportunities, jobs and businesses.”
To read more about China’s energy diversification needs/aims head over to the article.
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