Global Green Stimulus Surpasses $200 Billion

Governments around the world have committed more than $200 billion toward technologies to cut dependence on fossil fuels, which should help keep green development moving despite the global economic crunch, an analyst for Deutsche Bank said on Tuesday.

Governments in the United States, Europe and Asia have also developed more than 250 policies since July last year that support alternative energy such as solar and wind power and climate-change mitigation.

In the United States, some $106 billion, or nearly 14 percent, of the $787 billion stimulus package President Barack Obama signed to help revive the economy is for green energy including tax breaks, loan guarantees and incentives. About $18 billion of the green investments in the package will help improve mass transit systems.

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