Canada ranked eighth among G-20 members in 2009 global clean energy investments and finance, according to data released recently by The Pew Charitable Trusts. Last year, Canada invested USD $3.3 billion in the clean energy sector.

"The clean energy economy represents one of the greatest economic opportunities of the 21st century and Canada is among the leaders," said Phyllis Cuttino, who directs the Pew Environment Group's Global Warming Campaign. "Its $3.3 billion investment in 2009 represented an 80 percent annual increase - a clear sign that Canada is dedicated to seizing the opportunity the clean energy market presents."

In Who's Winning the Clean Energy Race? Growth, Competition and Opportunity in the World's Largest Economies, Pew examines key financial, investment and technological trends related to G-20 members and the clean energy economy. The report tracks and measures global investment activity - ranging from venture capital, initial public offerings from companies seeking to expand, mergers and acquisitions and lending for large-scale projects - in this sector. Pew found that the global clean energy economy has experienced remarkable growth:

• Globally, clean energy investments have increased 230 per cent since 2005.
• Despite a worldwide recession, global clean energy investments reached $162 billion in 2009.
• G-20 members accounted for more than 90 percent of worldwide clean energy finance and investment.
• Investment by nearly all G-20 members grew by more than 50 per cent over the past five years.
• More than 250 gigawatts of renewable energy generating capacity have been installed around the world, producing six percent of global energy.
• Global clean energy investments are projected to reach $200 billion in 2010.

"The facts speak for themselves," said Bloomberg New Energy Finance Chief Executive Michael Liebreich. "2009 clean energy investment in China totaled $34.6 billion, while in the US it totaled $18.6 billion. China is now clearly the world leader in attracting new capital and making new investments in this area."

In 2009, Canada led in certain areas of the clean energy sector. Among G-20 members, Pew found:

• Canada ranked sixth in investment intensity — the percentage of clean energy investment when compared to gross domestic product (GDP).
• Canada ranked eighth in overall clean energy investment.
• Canada ranked ninth - ahead of both the U.S. and China — in the percentage of energy obtained from clean sources.
• Canada ranked ninth in the five-year growth rate of installed clean energy.

"While some policy incentives are provided, Canada would do well to implement national clean energy policies in order to more effectively compete in the global clean energy economy," said Cuttino.

Countries with strong nationwide policy frameworks, including renewable energy standards, carbon markets, priority loans for renewable energy projects and/or mandated clean energy targets, such as China, Brazil, Spain, India, the United Kingdom and Germany, have the most robust clean energy sectors as a percentage of their economies. Countries without such policy frameworks lag behind.

Pew published Who's Winning the Clean Energy Race? to highlight how G-20 members are participating and where they rank in the clean energy economy. The data have been compiled and reviewed by Pew's research partner, Bloomberg New Energy Finance, the world's leading independent provider of news, data, research and analysis to decision-makers in renewable energy, carbon markets, energy smart technologies, and carbon capture and storage. The report's primary focus is on investment as it is the fuel that propels the innovation, commercialization, manufacturing and installation of clean energy technologies.

The report can be found at www.pewglobalwarming.org/cleanenergyeconomy/index.html.

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