According to the report Israel has more innovating cleantech companies than much larger countries like the United States, Germany and France
Cleantech Group, a global company which helps business leaders make strategic decisions involving cleantech innovation, released its first-ever global cleantech innovation ranking.
"Coming Clean: The Global Cleantech Innovation Index 2012," is a first-of-its-kind ranking, complied by the CleanTech Group and the World Wildlife Fund.
The study ranks 38 of the world’s top green countries on their efforts to develop innovative environmental technologies and recognized Israel, second only to Denmark, for being a leader in water reclamation, agricultural development and energy production.
According to the report in which Denmark, Israel and Sweden dominate top-three slots Israel has more innovating cleantech companies than much larger countries like the United States, Germany and France.
Although Israel initiates to a lot of green ideas, the report says not much is getting implemented at home and the problem is likely due to the scarcity of local expansion capital.
Cleantech Global report noted that the two factors that kept Israel out of the top spot are its small domestic market, and "the lack of government support for cleantech development."