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As the COP15 rages on, a news release has reached the Energy Refuge wires stating that China is now one of the top two most attractive places in the world in which to invest in renewable energy projects. The finding was published in the latest Ernst & Young’s renewable energy country attractiveness indices, which analyzed 27 countries, including Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Poland, Netherlands, South Africa, Spain, UK and the US, among others.
The Asian giant is now second only to the U.S. and has beaten Germany for the first time since the report was first released six years ago. It appeared at four in 2008 and six the previous year. The shift is attributed to the country’s increased commitments to reduce emissions through its carbon intensity reduction plans.
“Since 2007, local solar PV and wind technology providers have become major players on the global stage. Furthermore, China is also relaxing its restrictions on the amount of non-domestic components used to manufacture generation technologies. In fact, China is now expected to lead the world in terms of investment in renewable energy in 2009â€, said Ben Warren, Ernst & Young’s Environment and Energy Infrastructure Advisory Leader.
According to the report, the indices also saw rises for Brazil and Japan, thanks to the former’s energy plan to 2017 that includes calls for 7.3GW of wind, biomass and small hydro combined generation capacity to drive towards a 2020 target of 10% of consumption to be met by renewable energy and the latter’s new targets to reduce greenhouse gas emissions by 25% (based on 1990 levels) by 2020.
“If global agreement is achieved in Copenhagen, a host of new policies and regulations will emerge worldwide, catalyzing a global energy revolution, altering the way and the extent to which we travel, and providing enormous stimulus for technology innovation. Huge volumes of capital will be required from the public and private sectors to deliver this changeâ€, added Mr. Warren.
More news from and about China: tomorrow and Sunday, the 2nd International Lohas (Lifestyles Of Health And Sustainability) Forum is taking place in Beijing. Self-described as “an international movement and growing trend in China to create more environmentally friendly communities, businesses, and consumers.
The forum will feature speakers from mainland China and Taiwan, Japan, Europe, and the United States who will be discussing the development of rural areas in China, organic farming, existing and developing eco-villages, eco-tourism, and green building. (Via Brightergreen)
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It’s nice to hear that there’s actually some progress here.
Great stuff……… Thanks for sharing.