China dominates “green” stimulus spending in ‘09


The bulk of U.S. green stimulus funds were in the American Recovery and Reinvestment Act enacted this year, but the Wall Street bailout in late 2008 also had energy-related provisions.
 
HSBC has revised downward its 2009 worldwide green stimulus spending estimate, from $114 billion to $94 billion, citing delays in disbursing funds in several European nations. But the HSBC analysts also believe that the spending pace will increase next year, reaching $230 billion.
 
The bank forecasts that the U.S. share of global green stimulus spending will rise to 20 percent next year, while China's share will fall to 38 percent.
 
Worldwide, the green portions of nations’ overall stimulus plans total $513 billion, or 16 percent of the measures enacted to boost growth, according to HSBC.