02:55 GMT04 December 2020
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    Green energy investment rose 7 percent to $367 billion last year amid turmoil in the gas and oil market, a report released Monday showed.

    MOSCOW (Sputnik) — The figures defied predictions of market analysts that slumping fossil fuel prices would stunt cash flows into the clean energy sector, the annual report by Clean Energy Canada, an initiative of Simon Fraser University, indicated.

    China ranked first in the list of top destinations for green investment with $110.5 billion, followed by the United States with $56 billion, and Japan with $43.6 billion, together making up over half of the total investment.

    Canada retained its eighth place despite cutting clean energy investment by 46 percent to $4 billion. "Canada’s performance in 2015 is unsettling, and markedly out of step with other nations," the Vancouver-based initiative stressed.

    According to Greenpeace, investment in renewables overtook new fossil fuel investments that amounted to $253 billion in 2015.


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