According to the Guardian Online, the UK is rapidly losing the race to be the global powerhouse of the green economy.
According to rankings released this week, the UK has slipped from being third in the world in terms of investment in green growth to 13th. This means we are far behind developing countries such as Brazil at 6th place and India who ranked 10th. China came top in the rankings, investing far more in low-carbon technology investment and development.
Meg Hillier, shadow energy and climate spokeswoman, told the Guardian Online: "If we do not move fast we will slip back even further, and companies will shut up shop here or go abroad."
Investment in alternative energy and clean technology reached $11bn (Â£7bn) in the UK in 2009, but plummeted to only $3.3bn (Â£2bn) last year - a decline of 70 per cent.
This shows there are huge differences between top of the league China, who invested $54bn (Â£34bn) along with Germany with $41.2bn (Â£25.7bn) and the US, with $34bn (Â£21bn) of investment last year.
With electricity and gas suppliers increasing their prices, the need for greener energy alternatives to fossil fuel is greater than ever.
Overall, global clean technology investment reached a record $243bn (Â£152bn) last year.
This huge disappointment for the country comes ahead of a crucial cabinet discussion of the UK's climate change targets beyond 2020, due to take place in the next few months.
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