China leads in trade of renewable energy products
Updated: 2014-06-26 10:06
(Xinhua)
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NAIROBI - China leads the globe in the trade of renewable energy products, a survey from the UN Environmental Programme (UNEP) on Wednesday revealed.
The survey indicates that China leveraged on decreased manufacturing costs and increased investment to boost the trade.
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Steiner said developing countries collectively accounted for above 30 percent new solar photovoltaic capacity installed globally last year.
"A significant contributor to South-South environmental goods and services trade is exchange of renewable energy technologies, which now represents one of the fastest-growing markets in the world," he added.
Steiner, who is also the UN Under-Secretary-General, said the global environmental product market is expected to grow to approximately $1.9 trillion by the year 2020.
United Nations Conference on Trade and Development (UNCTAD) Secretary General Mukhisa Kituyi said China is one of the countries to demonstrate a positive shift towards a green economy.
"It has shown commitment to maintaining high environmental standards," he said. Kituyi urged China to promote environmental consciousness throughout the world.
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