March 26, 2016 2:24 PM

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India, China led investments in renewable energy in 2015: UN report

India and China led the developing countries in investments made in renewable energy in 2015, a UN-backed report has said.<br/><br/>The report notes, for the first time, commitments in solar, wind and other renewables' capacity by emerging economies has surpassed those by wealthy nations.<br/><br/>The report on 'Global Trends in Renewable Energy Investment' by the UN Environment Programme said the developing world committed a total of 156 billion dollars in new renewables capacity last year, up 19 per cent on 2014 figures.<br/><br/>In contrast, Investments by developed countries were down by 8 per cent in 2015 to 130 billion dollars.<br/><br/>The report said, the investment in India took place against a backdrop of pro-renewable policies introduced by Narendra Modi government.<br/><br/>These include a target to almost- triple wind capacity to 60 GigaWatts by 2022, the report added.

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