In light of the recently critical global economic situation, the International Energy Agency’s recently published report “The Impact of the Financial and Economic Crisis on Global Energy Investment” states that the G20 nations must increase the amount invested in low-carbon power technologies during 2009 (including carbon capture and storage) by a factor of four and that such levels of investment must be maintained until 2030 in order for Co2 reduction goals to be kept.
Globally, investments in renewables must be tripled from $60,000 million in 2009 to $180,000 million each year, informs the IEA, while six times more funding than is currently allocated should be earmarked to stimulate these technologies.
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