Global clean energy investment surpasses new fossil fuel spending
Investment in sustainable energy projects rose 5% in 2008 to $155 billion worldwide, according to a report issued today by the United Nations, surpassing investment in new fossil fuel projects for the first time.
However, the credit crisis delayed many North American projects, leading to an 8% drop in sustainable energy investments here. Chinese investment in renewable energy (mostly wind) rose 18%, Indian investment grew 12%, and Brazil increased 76%, mostly in sugar-cane ethanol. Brazil [...]
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