Earth Equity News

Nations Leave 91% of Green Stimulus Funds Unspent. By Dinakar Sethuraman, Bloomberg, October 19, 2009. "The U.S., China and major economies around the world are still holding about 91% of the $177 billion in stimulus money promised for clean-energy development because most projects haven't been evaluated, a report showed. Administrative hurdles remain for the majority of developers, with just 9% of the total funds having been disbursed from economic-stimulus programs designed to pull economies out of recession, according to the study by New Energy Finance, a London-based consulting firm. 'The process of disbursement has been a sobering experience,' said Anna Czajkowska, an analyst and author of the study... Some of the aid for cutting dependence on fossil fuels may never be spent because a global economic rebound is reducing pressure to use stimulus money. Several nations including Japan and Spain are reconsidering their green-stimulus spending, according to the report released late last week."