India, China led investments in renewable energy in 2015: UN
India and China led developing countries in investments made in renewable energy in 2015, says a report revealed by the ‘Global Trends in Renewable Energy Investment’ Report published by the UN Environment Programme (UNEP). This is for the first time that commitments made by emerging economies in solar, wind and other renewables capacity have surpassed those by wealthy nations.
India, China led investments in renewable energy in 2015: United Nations... https://t.co/RUhb97aP0K— Embassy of India (@IndiainSweden) March 29, 2016
Key facts from the report
♦ As per the report developing world including China, India and Brazil committed a total of USD 156 billion in new renewables capacity last year, up 19 per cent from 2014 while in contrast renewable energy investments by developed countries were down by 8 per cent in 2015 to 130 billion dollars.
♦ A large part of the record-breaking investment in developing countries took place in China, with its investment commitment up by 17% to 102.9 billion dollars. India was also among the top 10 investing countries in renewable energy with its commitments rising 22% to USD 10.2 billion.
♦ The US, Japan, UK Brazil, South Africa, Mexico and Chile all made it to the top 10 investing countries in 2015. The US was up 19 per cent to USD 44.1 billion, and in Japan investment was much the same as the previous year at USD 36.2 billion.
♦ Within the developing-economy category, the “Big Three” of China, India and Brazil saw investment rise 16 per cent to USD 120.2 billion, while other developing economies enjoyed a 30 per cent bounce to USD 36.1 billion.
♦ India enjoyed a second successive year of increasing investment, breaching the USD 10 billion for the first time since 2011. The investment (in India) took place against a backdrop of pro-renewable policies introduced by the Union Govt. which includes a target to almost-triple wind capacity to 60 GW by 2022.