UN: China invests more in renewable energy than Europe

Last year was the first ever that China invested more in renewable energy than Europe, according to a new UN report released recently.

China's total investment was down by 6 per cent at US$56 billion, while Europe's dropped 44 per cent to US$48 billion. The US saw a fall of 10 per cent to US$36 billion. India moved 15 per cent down to US$6 billion and Brazil 54 per cent down to US$3 billion, the lowest since 2005.

The Americas, excluding the US and Brazil, increased investment in renewables by 26 per cent (to US$12 billion) in 2013. Japan's solar boom helped to drive an 80 per cent increase in re-newable energy investment to US$29 billion in 2013.

This report entitled Global Trends in Renewable Energy Investment 2014 was produced by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance, the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance.