After much urging and dire threats, the global economy, much like a stubborn and temperamental toddler, is starting to reluctantly turn towards sustainability, according to the "State of the World 2008" report released by the Worldwatch Institute Wednesday.
"Innovative green efforts by governments and business are becoming commonplace," said Gary Gardner of Worldwatch, a U.S.-based environmental think tank.
"While green projects are no longer marginal, they are still a long ways from being mainstream," Gardner, co-director of the report, an annual summary that usually focuses on documenting environmental declines around the world, told IPS.
The report describes a host of new economic opportunities that are attracting capital. An estimated 52 billion dollars was invested in renewable energy in 2006, up 33 percent from 2005. Preliminary estimates indicate that the figure reached 66 billion dollars in 2007. Carbon trading is growing even more explosively, reaching an estimated 30 billion dollars in 2006, nearly triple the amount traded in 2005.
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