Clean technology innovation is a global phenomenon. And it is not just because global warming is every country's problem. It has led to a fairly healthy M&A and IPO international market despite a severe financial recession in the last two years. So what countries fare better than others? The Cleantech Group in partnership with the WWF recently released a global innovation cleantech index.
There are a few surprises in the study that looked at 38 countries (picture above - courtesy of Cleantech Group) across multiple factors including energy policies, entrepreneurial culture, access to capital, industry revenues, and the number of cleantech start-ups that went public or got acquired. US does not rank first, nor China, when countries are normalized by their Growth Domestic Product (GDP). The answer lies in Scandinavia, which takes three spots in the top-5 countries that had the most impact. The global index compiled data from INSEAD, OCDE, the World Bank and other organizations. Here is the list of the most active countries in cleantech.