Climatescope report shows China, Brazil, South Africa have boosted clean energy investments

For the first time this year, emerging economies such as China, Brazil and South Africa have made a larger investment on green energy than richer countries, according to a new government study.

On behalf of the UK and US governments, Bloomberg New Energy Finance compiled an annual Climatescope report on clean energy investment trends across 55 emerging markets in Africa, Asia, Latin America and the Caribbean.

The “Climatescope” nations added 142 gigawatt of new renewable capacity between 2008 and 2013, presenting a 143 per cent increase. Meanwhile, more affluent Organisation for Economic Co-operation and Development (OECD) nations achieved an increase of just 84 per cent in renewable capacity.

According to reports, last year developing countries nearly met OECD’s capacity figures by 6 gigawatts. Apparent trends began to form in regards to energy deployment levels between these two nations, suggesting that emerging countries are becoming more successful than richer countries.

Climatescope utilises thirty indicators that measure the ability of each country to attract a greener economy. It is also the first annual report, index, and interactive web tool that focus on the clean energy market.

The Climatescope study confirms that renewable and clean energy technologies compete with traditional fossil-fuels in terms of cost, in emerging countries.

The interactive report is designed to provide investors with an understanding of the regulatory industrial and financial policies in each country.

China is catergorised as the best place for clean energy investment, closely followed by Brazil, South Africa, India, Chile and Uruguay. Along with, Kenya, Mexico, Indonesia, and Uganda also ranked as top ten for clean energy investment.

Justine Greening, the UK International Development Secretary said "Private sector investment is vital if developing countries are to improve their renewable energy provision and underpin economic growth,"

She continues to express that the “Climatescope” boosts the investment potential of this market by giving investors the information they need to make reliable funding decisions, thereby helping millions of people to access modern forms of energy and improve their quality of life."