The UK has attracted 41 per cent of the total investment into low-carbon companies in the EU, according to a recent report published by green investment company, Shell Springboard.
The study, conducted by independent consultancy Vivid Economics in association with New Energy Finance entitled – “The Race to Capture the Carbon Pound: The UK’s place in the global market for low carbon innovation” concluded that:
• The global market for carbon reducing technologies could reach £2,000 billion a year – comparable to commodities such as wheat and steel today.
• 2007 was a record year for investment in sustainable energy with total global investment growing from £50 billion in 2006 to £74 billion in 2007
• Overall, UK companies attracted over £1 billion of venture capital and private equity finance into renewable energy and energy efficiency technologies in 2007. This is more than twice that of any other European country.
• Climate change entrepreneurship could be a bigger, more enduring opportunity than the dot.com boom of the late nineties when global sales of personal computers were growing at 15-20 per cent.
The report is released as the closing date approaches for the Shell Springboard awards which provide a financial boost to innovative, low carbon business ideas. The deadline for this year’s applications is midnight on Friday 7th November 2008 , to apply visit www.shellspringboard.org.
