Copenhagen failure will not derail clean energy growth - Schroders

Schroder Global Climate Change manager Simon Webber believes clean energy stocks will continue to advance in 2010 despite this month’s Copenhagen summit only delivering a “fudge” agreement.

The manager says national governments' will continue to invest in green energy regardless of the failure to reach an international deal.

"Irrespective of the Copenhagen fudge, the existing national action plans will drive meaningful investment in low carbon technologies for the foreseeable future. China, Europe, India, Korea, Australia, Brazil and the US all have major renewable energy investment plans," he says.

"We expect a continuation of strong investment growth in all of these industries, which, along with energy efficiency, represent the core climate change investment themes."

"The investment outlook here is unchanged, and we expect 2010 to be a relatively good year for clean energy stocks."

However, Webber says he will avoid carbon-orientated stocks in the near-term, following the failure to agree a framework for extending international carbon trading.