Citola Blog
Global Low-Carbon Market £4 trillion by 2015
The global low-carbon market is large and growing. And the UK wants to increase its market share from £112 billion.
The UK Secretary of State for Energy and Climate Change Chris Huhne has been very focal in the last 6 weeks outlining a “blueprint for our energy future” and launching a number of initiatives including the world's first renewable heat incentive program to reduce emissions in the UK.
“By the end of this decade, the UK must cut our carbon emissions by 34% on 1990 levels. We must generate 15% of our energy from renewables by 2020 up from 6.7% in 2009,” Chris Huhne said during a speech in London. “This transition to the low carbon economy does not just protect against the threats. It opens up a world of opportunity."
“The global low-carbon market is worth more than £3 trillion. It is projected to reach £4 trillion by 2015. The UK share of that market is currently worth more than £112 billion. It could be much larger.” - Chris Huhne
The realisation is that a transition to a low-carbon economy (i.e. a ‘green’ economy) offers huge commercial opportunities and incentives for employment. Politicans around the world are beginning to communicate in these economic terms and away from the sometimes polarising 'moral' debate.
“At home and abroad, the opportunities are huge. For jobs, exports, and growth, the future is green. We are already feeling the benefits,” said Climate Change Secretary Huhne. “Because the cost of investing in low-carbon energy and security of supply pales in comparison to the costs of dangerous climate change and energy dependency... there are real economic opportunities up for grabs.”
This has been echoed in the USA where climate legislation has been likened to a “jobs bill” and in Australia where the Prime Minister Julia Gillard has called carbon price legislation as a “vital economic reform to move Australia to a clean energy nation.”
Indeed the world's first renewable heat incentive program in the UK is a £860 million government scheme expected to increase green capital investment by £4.5 billion up to 2020.
What this means for Citola is an actively growing market driving organic growth and the inherit value in Citola’s offering while increasing future demand for Citola products and services. This has been evidenced by an increasing number of projects in development in the UK, Australia, Brazil and globally.
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