What's wrong with this headline? In Washington, D.C., there’s an ongoing debate about whether big oil and gas companies should keep their huge tax-payer funded subsidies. Meanwhile, in Beijing, the government is strategically maneuvering to capture the economic benefits of the future clean energy economy. A study released this week concludes that China’s green tech industry raked in $65 billion last year – making it the world’s leader in green tech production by revenue.
The green tech market contributed an impressive 1.3% of China’s GDP, boosting China’s rank based on percentage of GDP to #2. Windmill production giant Denmark scored highest with its green tech sector contributing 3% of its GDP.
The study (conducted by Roland Berger Strategy Consultants and commissioned by the World Wildlife Fund) also ranked the US. Guess what? We’re way down the list at #17.