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Low Carbon Products and Services Bring High Levels of Jobs and Revenues

24 May 2007

A new report launched today by The °Climate Group - In the Black: The Growth of the Low Carbon Economy - showcases the rapid growth experienced by companies providing innovative low carbon products and services.

Data gathered from four countries - Germany, Japan, the UK and the US - and from four key areas - Low Carbon Power, Energy-Smart Products, Low Carbon Vehicle Technologies and Low Carbon Financing/Carbon Markets - provides a growing body of evidence of the increase in revenue, profits and jobs being generated by companies taking the lead in providing climate change solutions.

This is, in turn, exciting interest from investors and financial institutions that recognise these companies' growing need for capital and the opportunities for value creation they offer.

Headline findings from the report include:

  • More than two million people are employed in the renewables sector globally, and more than 170,000 jobs were created in 2006 alone.
  • The market capitalisation of the 85 largest renewable energy companies reached US$50 billion in 2005, double that of 2004.
  • In the US, hybrid car sales have grown by 2,200% since 2000, and hybrids are expected to reach 1 million in unit sales globally by 2010 and more than 7.5 million by 2020.
  • In 2006, investments in renewable power reached US$71 billion, almost 50% up on the previous year.
  • In 2006, transactions on the global carbon market reached US$29.7 billion in value - over triple the value for 2005

"The global economy is on the verge of a revolution. The need to cut man-made emissions of greenhouse gases (GHGs) is overwhelming" said Steve Howard, CEO of The °Climate Group, "and the opportunities to do so are being grasped by a growing band of entrepreneurs and investors. This report demonstrates that the economic opportunities of developing low carbon products and services are vast, both in terms of revenues and job creation."

Frank Asbeck, CEO of Solarworld, one of the companies featured in the report and a world leader in solar energy, said "In recent years we have seen major new opportunities for expanding the role of renewable energy. This is a business area that we believe is set for strong growth in the future, bringing both new investment and employment opportunities."

In the Black provides an overview of the 'supply-side' of low carbon solutions, and builds on the 'demand-side' illustrated by the mass of pro-active organisations whose activities in emissions reductions were reported on earlier this year in the third edition of Carbon Down Profits Up.

For further information please contact:
UK: Alison Lucas: +44 (0)7786 546724, Mark Kenber: +44 (0)7966 170302
USA: Callum Grieve: +212 545 5428
Australia: Rupert Posner: +61 438 989 420

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