China has greatest expansion of renewable energy in the world

Also accounts for the most significant energy savings.

These were some of the findings in a report by the World Bank, the International Energy Agency and 13 other agencies. The research team was headed by the World Bank and supported by the World Energy Council.

The report, "The sustainable energy for all global tracking framework," identified 20 high-impact countries such as China and India that together consume 80% of global energy. The WEC called on these countries to lead the way and boost the share of renewables in their respective energy mix.

In 2010, renewable energy accounted to 18% of the global energy mix, according to WEC. This percentage should double to 36% of the global energy mix.

The goal of the report is to monitor the progress achieved so far with respect to the objectives set by the "Sustainable energy for all initiative." The initiative’s three main goals are to achieve universal electricity access, double renewable energy in the global energy mix and double energy efficiency by 2030.

The World Bank, called on all countries around the world, private sector investors and international organizations to increase investment in the energy sector. To meet the current objectives, at least US$600 billion a year until 2030 is needed. At present, an estimated US$409 billion is being spent yearly in this sector.