UK businesses should tap into ‘green’ markets overseas
Greenwise Staff
11th November 2008
The global environmental goods and services sector is expected to grow by more than 30 per cent to £436 billion by 2010, offering significant opportunities for UK companies, according to new research.
Government export agency UK Trade & Investment (UKTI) is urging UK businesses – large and small – to look at the overseas environmental industries to increase their sales, following the publication of a report it commissioned into the market opportunities for environmental goods and services, renewable energy, carbon finance and low carbon technologies.
The research, carried out by SQW Consulting, shows that the US and China currently present the best opportunities for the UK's £25 billion a year environmental industries. In all, seven countries –Australia, Brazil, China, India, South Africa, Turkey and the USA –were tipped to offer the most opportunities for UK expertise.
The USA environmental sector was recognised as the largest market, valued at an estimated £152 billion in 2005. China was the second largest, valued at £20 billion, followed closely by Australia (£10 billion) and India (£9 billion).
At least a tenth of the UK sector's annual turnover is through exports and UKTI said it wanted to help British businesses tap into these emerging green markets.
“The UKTI report shows the global commitment to combating climate change can create jobs and give small businesses the chance to expand,” said UKTI chief executive Andrew Cahn. “Through UKTI, UK businesses can tap into these markets to help address environmental concerns, meet environmental regulations and establish infrastructure facilities.”
The report found different countries surveyed presented specific opportunities for UK expertise. China, it concluded, offered opportunities in low carbon energy generation capacity, renewable energy, and carbon finance. In the US, there were specific opportunities in generation technologies. In Brazil, the opportunities were for environmental consultancy and waste management, while in Turkey, it was water and waste water treatment. In countries, such as South Africa, the report noted there were limited opportunities at present, but, future opportunities were likely to be in waste and energy management, environmental consulting and water and waste water treatment with some potential for carbon finance and renewable energies.
The report, published ahead of the EU-China Summit that is set to take place on December 1, is expected to help in the UK Government’s objective of creating low carbon zones.