New research released by Shell’s Springboard programme shows that the chal ...

New research released by Shell’s Springboard programme 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:
A market in the UK created by the government climate change programme, which could be worth over £30bn cumulatively over the next ten years. By 2010 the market will be double the current size.
The cost of tackling climate change in the UK in 2010 will be affordable at 0.3% of the economy.
Concerted international action to avert climate change could create a global market worth $1tn in the first five years alone.
Clearly identified opportunities for small- and medium-sized enterprises (SMEs) across all climate change markets, with case studies of nine SMEs in the UK with leading edge products.
The biggest identified markets for SMEs in 2010 will be:
Building regulations for commercial and industrial use - £950mn.
Renewable electricity - £800mn.
Renewable road transport fuels - £500mn.
Domestic energy efficiency - £400mn.
Building regulations for domestic use - £275mn.
In addition, the study identifies the UK as a world leader in the international emissions offset market, with UK firms already involved in about £400mn of projects a year, with the market rapid increasing. The UK voluntary offsets market could be worth another £100-200mn per year.