The global market for low-carbon energy firms will almost treble over the
next decade creating a market worth $2.2tn a year by 2020, according a major new
report from banking giant HSBC.
The research report maps out a number of scenarios for the world's emerging
low-carbon energy generation and energy efficiency industries and concludes that
despite current regulatory headwinds the sector is set to enjoy compound annual
growth rates of around 11 per cent over the next 10 years.
Speaking to BusinessGreen.com, report co-author Nick Robins said
there was a good chance that the projections could prove to be pessimistic. "We
just looked a low-carbon energy, we have not modelled the carbon market or the
adaptation agenda," he said. "The market could end up being a bit worse than we
suggest, but it has the potential to get a lot better as well."
The team behind the report mapped out four scenarios for the low-carbon
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energy sector, including a worst-case scenario backlash in which governments
renege on green policy commitments and as a result the market only doubles to
$1.5tn by 2020; a Copenhagen scenario in which governments make good on
commitments made at last year's UN climate change summit in the Danish capital
and the market trebles to $2.2tn; and a green growth scenario in which
governments build on current pledges and the market swells to $2.2tn.
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