GROWTH STORY by ProQuest

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With global financial markets languishing in the doldrums, "green financing" is emerging as a key lever to stimulate a sustainable global economy. Record-high oil prices and the increased desire by the public and government to stop global warming are sparking big investments in innovative projects. High fossil-fuel prices and fear about long-term supplies and geopolitical risks are fueling interest in new, renewable forms of energy like never before. Also big factors are policymakers' and citizens' growing desire to tackle global warming, and banks and companies' acceptance of the business case for green investment. Focusing on venture capital in North America, Europe, China and India alone, a report from San Francisco-based market-research firm Cleantech Group shows venture investors poured a record $2 billion into clean-technology companies in this year's second quarter. While the big projects draw much of the attention, the renewable-energy industry is traditionally focused on small, scalable projects.

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