The green technology sector is expected to grow to over $2 trillion annually by 2020—nearly a $1.5 trillion increase from 2007. Where will investments of this magnitude come from? Finance is one of the most serious and under-appreciated constraints on rapid green economic development. Widespread deployment of existing technologies can achieve the goal of global emissions peaking in 2020 and keeping temperature increases below 2°C. But investment volumes need to triple in order to get there.
There is no single solution, but it is clear that the US and China will play leadership roles in scaling up green finance. The two economies have striking complementarities, with the US strong in innovation and China strong in pilot testing and manufacturing. The US has financial mechanisms and China has cash reserves, both have pressing needs. Coordinating efforts to scale green finance represents an opportunity that is barely tapped to date.
In December 2010, Asia Society Northern California and the American Chamber of Commerce in Shanghai, in partnership with ChinaSF, the Bay Area Council, the US-China Clean Energy Forum, and the China-US Energy Efficiency Alliance, will gather leading financiers, businesses, and analysts from the US and China to discuss these issues.
For more information, please visit http://asiasociety.org/events-calendar/scaling-green-finance-china-and-united-states
Added by chinadialogue on December 6, 2010