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Tuesday, October 07, 2008
Tuesday, October 07, 2008
Corporate Social Responsibility News
Posted: Wednesday, July 02, 2008, 9:03AM
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"Corporate Social Responsibility"
Massive increase in green energy investment, report claims
Spending on green power soared by 60 per cent in 2007 as companies looked for alternative energy sources following huge cost rises in oil and ongoing concerns over climate concerns. The UN Environment Programme (UNEP), found that spending on green power hit $148bn (£75bn) in 2007.
Wind energy received the biggest investment, whilst investment in ethanol and other biofuels fell by almost a third as higher crop costs in the US took their toll.
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 renewables and efficiency increases are to be met," it said.
The majority of the investment in 2007 was seen in Europe, the report said, with the US, China, India and Brazil following.
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