Renewable Energy at $254 Billion? Let’s Make It a Clean Trillion

Billionaire bankers gathered at the United Nations yesterday to call for more investment in renewable energy -- $1 trillion a year, to be exact.

It won’t be easy. Global investment in renewable energy fell 12 percent in 2013 to $254 billion, according to data released by Bloomberg New Energy Finance (BNEF), casting a shadow over the notion of a “clean trillion.”

Last year was the second decline in renewable investments since 2011’s record-high $318 billion. Investors and climate-policy advocates including hedge-fund billionaire Tom Steyer and former U.S. Treasury Secretary Robert Rubin called for changes to financial markets that would boost investment. Financing must double by 2020 and double again to $1 trillion by 2030 in order to avoid global warming of more than 2 degrees Celsius, reports Ceres, the host of yesterday's conference.

See full Article: http://www.bloomberg.com/news/2014-01-16/renewable-energy-at-254-billion-let-s-make-it-a-clean-trillion.html