Dive Brief:
- Global investment in renewable energy and smart-grid technologies are on track to decline for the second consecutive year, according to Bloomberg New Energy Finance (NEF).
- Clean energy investment fell to $45.9 billion in the third quarter from the second quarter, making it "almost certain" that investments will drop for the second year from $281 billion in 2012, Bloomberg NEF said.
- “Governments accept that the world has a major problem with climate change but, for the moment, appear too engrossed in short-term domestic issues to take the decisive action needed,” Michael Liebreich, CEO of Bloomberg New Energy Finance, said.
Dive Insight:
Among the factors cited by Bloomberg were the move in Europe to curtail subsidies for renewables and U.S. investors rushing to take advantage of opportunities to exploit bountiful supplies of shale gas.
