US President Barack Obama likely to continue clean energy focus in second-term
The clean energy sector in the US is expected to see the continuation of a favorable policy regime as US President Barack Obama’s defeated Republican challenger Mitt Romney in a hard fought US Presential election.
The successful re-election bid of the President signals greater investments in renewable sources of energy besides stricter regulations for carbon emissions.
Speaking just hours after the election, in his victory speech the President outlined his vision of creating a nation that was free of the ill effects of climate change and free of dependence on foreign oil.
President Obama has repeatedly called for greater share of renewable fuels in the country's energy portfolio and undertook a $90bn investment initiative for the sector in his first term.
"On energy, we agree we've got to produce domestic energy, but we've got to use energy sources of the future like wind and solar and biofuels," the President had outlined in the first presidential debate in Colorado, US.
Congratulating the President on his re-election United Nations Secretary-General Ban Ki Moon released a statement that also outlined continuing partnership in sustainable development and tackling climate change challenges.