Investment Vision 2011 Series: Climate Change
It is estimated that greenhouse gas emissions trading markets could be worth $2 trillion by 2012 and it is further estimated that the market for clean technologies could be worth $1.9 trillion by 2020
-United Nations Environment Programme, 2010
In recent years the scientific evidence on climate change has become increasingly clear, it is now almost universally accepted that in order to minimise the risk of irreversible damage to our planet and our livelihoods, we need to strive to keep the average global temperature increase below 2°C.
Climate change concerns and the need to reduce carbon emissions are driving increasing growth in the renewable energy industries. Some 85 countries now have targets for their own renewable energy futures, and have enacted wide-ranging public policies to promote renewables. Scientists have advanced a plan to power 100% of the world's energy with wind, hydroelectric, and solar power by the year 2030, recommending renewable energy subsidies and a price on carbon reflecting its cost for flood and related expenses. These clean power technologies will need to be included in almost every region of the world, accounting for 60–80% of power capacity additions in most developed nations.
In this report
independently written by our Market Intelligence & Research Unit (MIRU) to find out more about this flourishing region.