Climate change leads to
$300 bn business
Delhi, Oct 20 (IANS) With the problems of climate change gaining
urgency, tackling it has become a bigger business than software
and biotechnology combined, a research report says.
annual revenues from climate change businesses - which include
renewable energy, nuclear power and energy management - have
now surpassed $300 billion, HSBC's global banking and markets
research team has found.
said that 390 companies around the world could now be classed
as providing goods or services that tackle climate change,
up from 300 companies a year ago and about 166 in early 2004.
These companies have not so far been considered together in
one group as they are spread across many existing sector categories.
But now, HSBC said, this was a "clearly identifiable
the last year we've seen a massive growth in the number of
companies providing goods and services designed to address
climate change," said Joaquim de Lima, global head of
quant research for equities at HSBC.
demonstrates that companies are taking the issue seriously
and are willing to adapt their businesses to the challenges."
companies include large multinationals such as Siemens and
Philips, which are usually considered as general industrials;
large renewable energy companies, such as Vestas and Suzlon,
the Danish and Indian makers of wind turbines respectively;
and a big number of smaller start-ups, such as energy management
has created an index of climate change companies that includes
only those getting a large proportion of their revenues from
low-emission products or services.
The index was designed to help investors who want to put
their money in companies that are expected to profit from
climate change business.