For the first time ever, developing countries lead yearly
investment in clean energy — representing about $72 billion in
spending in 2010, versus $70 billion in rich countries. So while
U.S. lawmakers argue about efficiency standards in light bulbs,
the 800-pound dragon, China, is dominating. Meanwhile, Brazil,
India and various Middle Eastern countries are catching up. The
figures, which were put together by Bloomberg New Energy Finance
for the UN Environment Program, show that total global
investment grew by 30% in 2010 to $211 billion: China, with
US$48.9 billion in financial new investment in renewables (up
28%), was the world leader in 2010. However, other parts of the
emerging world also showed strong growth: South and Central
America: up 39% to US$13.1 billion; Middle East and Africa: up
104% to US$5 billion; India: up 25% to US$3.8 billion; and Asian
developing countries excluding China and India: up 31% to US$4
billion. It may be somewhat inaccurate to say that the
developing world is winning – it’s