Increase in Green Energy Investment

Spending on green power soared by 60 per cent in 2007 as companies looked for alternative energy sources following huge cost rises in oil. The UN Environment Programme (UNEP), found that spending on green power hit $148 Billion in 2007. UNEP's Global Trends in Sustainable Energy Investment 2008 report, revealed that it expects spending on green energy to rise substantially by 2012. "Investment in the sustainable energy sectors must continue to grow strongly if targets for greenhouse gas reductions and renewable and efficiency increases are to be met," it said.