Did you say 230% growth?

The PEW Environment Group is a well funded part of the PEW Charitable Trusts, an organisation established in the late 20th Century by the sons of the wealthy Sun Oil Co. (now Sunoco) to find answers to the world's difficult problems.

In their recent report "Who's Winning the Clean Energy Race? Growth, Competition and Opportunity in the World's Largest Economies", they document the dawning of a new worldwide industry - clean energy - which has experienced investment growth of 230 percent since 2005! 

The report places Australia 14th in the G20, with US$1B invested in this area in 2009 which puts us just ahead of Japan (US$0.8B), but still behind Turkey (US$1.6B)

China surprisingly to many analysts ranks No.1 with nearly US$35B invested last year! This is nearly double what the US is spending with just under US$19B invested.

What I love from this philanthropic world leader is the bi-lateral approach to the findings, the US v the Rest of the World. Even on a global issue such as the environment, how will the US win? (mp3) is still the driving theme.

In a post GFC-world, many governments prioritised clean energy within their economic recovery funding, the bulk of which will reach innovators, businesses and installers in 2010 and 2011. Within the G-20 domestic policy decisions impact the competitive positions of member countries. Nations such as China, Brazil, the United Kingdom, Germany and Spain with strong national policies aimed at reducing global warming pollution and incentivising the use of renewable energy are establishing stronger competitive positions in the clean energy economy.

The US are screaming about this in magazines like The New Yorker, but where is Australia in the debate on this? 

In a speech to the Japanese Clean Tech industry in 2009 (remember, they're even worse than us), Trade Minister Simon Crean highlighted the Government's AU$4.5B Clean Energy initiative - $2.5B on clean coal and a Carbon Capture and Storage Institute, $1.5B on a Solar Flagships program, $500M to other renewables R&D investment and a AU$150M Clean Energy Investment Strategy through Austrade, whatever that means?

But up against $35B in China, we'd better focus our resources on adding some value somewhere!