|October 12, 2006|
Climate Change to Be £30 Billion Pound Opportunity for U.K. Business
|London, UK - New research by Shell Springboard shows that the challenge of tackling climate change could create a market of up to £30bn for British business over the next ten years. |
The research, carried out by independent consultancy Vivid Economics for Shell Springboard, quantifies for the first time the potential size of the market for businesses that develop technologies, products and services that help combat climate change. The findings include:
The research identifies major opportunities for small and medium sized enterprises in a wide range of markets, by both responding to consumer demand for environmentally friendly goods and to demands created by government action. The biggest identified markets for SMEs in 2010 will be:
The study is launched today with a panel discussion involving former CBI head and Chair of the Carbon Trust Clean Energy Fund Adair Turner, Dr Steve Howard from the Climate Group, Karl Watkin from D1 Oils and report author Robin Smale. It will be chaired by Lord Oxburgh, the former chairman of the House of Lords Committee on Science and Technology.
Lord Oxburgh, said: "The urgent need to reduce greenhouse gas emissions offers opportunities to the nimble. There is now scope for a wide range of devices and services, which a decade ago would have made no economic sense, and for which there would have been no demand.
"Shell has created the Springboard programme to help people to grasp some of these opportunities, and to take the first steps towards turning their ideas into viable businesses and products."
James Smith, Chair of Shell UK, added: "For business, tackling climate change is both a necessity and a huge opportunity. This creates a huge new opportunity for British business nationally and internationally. We have to step up to the challenge.
"Our small businesses and the scientific depth in our universities are going to be vital contributors.
"The wisdom of the market is a powerful force for tackling climate change. The Shell Springboard program recognizes this by focusing on the market opportunities for small businesses."