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Investments in clean technology to touch $10bn a week by 2030

Investments in clean technology to touch $10bn a week by 2030
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First Published: Fri, Jul 11 2008. 11 54 AM IST
Updated: Fri, Jul 11 2008. 11 54 AM IST
New Delhi: More than 300 technology leaders presented various technological innovations relating to clean and sustainable technologies at the 2nd Clean Tech forum organized by CII.
Presenting growing opportunities in new investment areas of clean technologies and renewable energy like wind technology, solar technology, and bio-fuels were experts like Chris Greenwood, director of New Energy Finance, UK who said that investments in the clean technology sector will reach the level of $10 billion per week by 2030. He pointed out that many clean technologies require heavy engineering and that there was urgent need to bridge the demand supply gap and raise the prices of these technologies. He said that priority should be given to building energy infrastructure in developing countries based on low cost and decentralized solutions.
“Clean-technology solutions can strike the right balance between environment and development,” said Atul Singh, president & CEO Coca-Cola India. According to him the forum had touched upon critical themes which were relevant, given the recent release of the National Action Plan on Climate Change.
John McCarthy, Australian High Commissioner to India stressed that visionaries of clean- tech, who are demonstrating care for environment and sustainability need to be provided the right policy setting, backed with political will.
Fred R. Buenrostro, former CEO of CalPERS, America’s largest pension fund, highlighted that asset allocations to clean technologies in emerging markets is on the rise and that emerging economies like India, are attracting institutional investors from developed countries like US. He said this was the right time for transformational investments for providing solutions to some of the world’s biggest challenges like climate change, rising energy costs and rising costs of food.
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First Published: Fri, Jul 11 2008. 11 54 AM IST