We believe that if policies create the right incentives, our own expectation of USD 450bn of annual investment in clean energy by 2012 can - and will - be met.

The International Energy Agency today called for a "global energy technology revolution" to put the world on a sustainable path to 2050. Its "blue scenario", indicating what would be needed to reduce world carbon emissions by 50% by 2050, implies the need for USD 45 trillion of investment in clean energy and low-carbon technologies over the next 42 years.

New Energy Finance, the world's leading research and information firm in clean energy and carbon, believes that the clean energy sector is already well on the way to delivering the necessary technologies. Its own authoritative figures put new investment in clean energy worldwide at USD 148.4bn in 2007, up a spectacular 60% on the previous year and nearly five times higher than in 2004.

Michael Liebreich, Chairman and CEO of New Energy Finance, said: "We commend the IEA for recognising the need to invest decisively in renewable energy and low-carbon technologies. Our analysis shows, however, that the private sector has already been increasing its investment in clean energy at a very fast pace over the past few years. We believe that if policies create the right incentives, our own expectation of USD 450bn of annual investment in clean energy by 2012 can - and will - be met."

About New Energy Finance:

New Energy Finance is the world's leading independent provider of research to investors in renewable energy, biofuels, low-carbon technologies and the carbon markets. The company's staff of 120 (based in London, Washington, New York, Palo Alto, Beijing, Shanghai, New Delhi, Hyderabad, Tel Aviv, Cape Town, São Paulo and Perth) tracks deal flow in venture capital, private equity, M&A, public markets, asset finance and carbon credits around the world.

The New Energy Finance Desktop is the world's most comprehensive subscription database of investors and investments in clean energy. New Energy Finance's Insight Services provide deep market analysis to investors in Wind, Solar, Biofuels, Biomass, China, VC/PE, Public Markets and the US. New Energy Finance is co-publisher of the world's first global stock-market index of quoted clean energy companies, the WilderHill New Energy Global Innovation Index (ticker symbol NEX). The company also undertakes bespoke research and consultancy, and runs senior-level networking events.

New Carbon Finance, a division of New Energy Finance, is the world's leading independent provider of analysis, price forecasting, consultancy and risk management services relating to carbon. It has dedicated services for each of the major emerging carbon markets: European, global (Kyoto) and US, where it covers the planned regional markets as well as potential federal initiatives.