Europe lags behind US and China in green investment

The use of green investment to stimulate growth in Europe is falling substantially short of efforts in the U.S. and China, the head of the European Commission’s environmental arm said. “EU states spent 3% to 13% of recovery aid on what we would call green activities,” Karl Falkenberg said. “On the U.S. side, we come up with about 14% … but we see China in the upper 30s.”  This verifies that beyond ambitious plans, where Europe has among the first to set the pace, and good intentions what’s required for the green revolution to happen is the existence of financial support from the government (either in terms of tax incentives or direct investment).  This is more pressing in emerging economies.  I chaired a very interesting discussion on that in 2008 organized by the EU-USA NGO in New York. In this China’s robust programme in protecting the environment was highlighted. 

Related Articles: China’s National Climate Change, ProgrammeEurope’s green investment falls behind U.S., China, Reuters, 15 June 2009, Sustainable Development in Eurasia, EUUSA Newsletter (Past Events, May 2008)Combating the Climate Change, EU

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