Despite ongoing economic challenges, Europe is leading the way for investment in sustainable technologies and has devoted $72 billion into the sector so far this year, according to Datamonitor.

Figures from the independent market analyst’s "Sustainable Technologies Investment Market Profiler" show that Europe is way ahead of the U.S. and Asia Pacific, which invested $12.2 billion and $12.7 billion respectively.

According to its figures, Spain saw the highest investment levels of any European country with $24.5 billion, way ahead of second place France with $15 billion. Meanwhile, the UK lagged in fifth place with $3.3 billion, half as much as third place the Netherlands, which invested $6.6 billion, and behind fourth place Germany with $5 billion.

However, while the value of investments is strongest in Europe, the United States has so far announced the greatest number of deals in sustainable technology with 54, more than three times as many as in Europe, which had 15 and almost three times as many as Asia Pacific, which had 19.