Clean energy leader is China

According to a report China stands in the second place next to Britain in the incentives value to reduce pollution caused by the generating the electricity. The estimation for the effort is seen such as Britain $29.30 per tonne of carbon, China $14.20, United States $5.10, Japan $3.10, Australia $1.70 and 70 US cents for South Korea.

Erwin Jackson, the director of Climate Institute said a strategic decision is created by this Chinese leadership which was missed out in the previous industrial revolutions and will not miss the third one. They are leading the largest market share of clean energy investment. The clean energy investment made by China was 35 billion US dollars in 2009 versus 11 billion in Britain and 18 billion US and it is expected to increase tenfold during next decade, Jackson added.

There were 10 major power producers from Japan who had joined the scheme to reduce the emissions by 20% of 1990 levels by 2012. There were variation in few places such as Korea, Britain, Tokyo, etc and the study also suggested that there were few policies directly used to the coal even though it was main reason for fuel and carbon pollution for the six countries. There were warnings that all these countries were leading to reduction targets approved after global climate summit during last year at Copenhagen. Jackson also said this report also showed that China and Europe were leading from the front for reducing pollution investment outpacing world’s worst per capita polluter Australia.

Greg Combet, the Australian Climate Change Minister has been pleased by this report as he said the carbon price will provide incentive to reduce pollution and take this country’s long-term competitiveness. The emissions trading laws were deferred by the ruling Labor party in Australia after failing to pass at August polls and the eco-minded Greens party worn record vote share. Prime Minister Julia Gillard has supported the penalties for carbon pollution and also created a committee to find a best way to reduce emissions.