03/25/2010 - China, Brazil and other developing countries are pouring billions of dollars into efforts to reduce carbon emissions and build up renewable energy markets, a trend that some experts say has turned the traditional climate change debate on its head.
A growing body of studies detail the government subsidies, regulatory policies and private investments that have sent money flowing into the clean energy sectors of some of the leading developing countries. The most recent report, out today from the Pew Environment Group, finds that China for the first time now leads the United States and all other major countries in green energy markets. Its private investments of $34.6 billion over the past five years are almost double America's.
Advocates of U.S. climate change legislation say the foreign buildup is a sign that America is falling behind in a global clean energy race. But many also feel it has blunted some of the sharpest demands from both rich and poor nations in the climate fight -- specifically developing countries' insistence that the West pay for any shift to low-carbon energy economies.
Read the entire article China Leads Major Countries With $34.6 Billion Invested in Clean Technology on The New York Times' Web site.