The World Bank announced October 16 that it allocated a record 44 percent of its annual energy lending to renewable energy projects during fiscal year 2012, 43 percent of that to hydropower. The bank’s $3.6 billion investment represents an eight percent jump from the previous fiscal year, and attributes the increase to growing demand for renewable energy financing, especially in Asia. The bank is a partner to the United Nations’ 2011 Sustainable Energy for All initiative, which has a goal of doubling the share of renewable energy in the global energy mix by 2030.