Renewable energy’s share in the power generation global market continued to rise last year despite a 14 pc drop in investments to $ 214.4 billion, says UNEP in its latest report
Renewables account for 44 pc of the 2013 newly installed generating capacity despite global investment dropping for the second consecutive year, says the report, noting that the steady expansion and increase in the use of the renewable energies have helped to reduce world CO2 emissions.
“A long-term shift in investment over the next few decades towards a cleaner energy portfolio is needed to avoid dangerous climate change, with the energy sector accounting for around two thirds of total greenhouse gas emissions,” stresses UNEP Chief Achim Steiner.
“The fact that renewable energy is gaining a bigger share of overall generation globally is encouraging. To support this further, we must re-evaluate investment priorities, shift incentives, build capacity and improve governance structures”, he adds.
