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HSBC Says Low-Carbon Market Will Triple to $2.2 Trillion by 2020
2010-09-06 08:19:12.44 GMT
By Catherine Airlie
Sept. 6 (Bloomberg) -- HSBC Holdings Plc says the global
market for low-carbon energy and efficiency projects will triple
to $2.2 trillion by 2020.
The bank based its forecasts on the likelihood of meeting
renewable energy, efficiency and carbon-dioxide emissions
targets.
"We recognize significant upside and downside risks to our
forecasts, but even in our most bearish scenario, we expect the
market to double by 2020," Nick Robins, head of climate change
at HSBC, said today in an e-mailed research report.
The bank expects the European Union will meet its renewable
energy targets and miss its energy-efficency targets. The U.S
has limited growth in the clean energy sector, and China will
exceed its targets, according to the report.
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To contact the reporter on this story:
Catherine Airlie at +44-20-7073-3308 or
cairlie@bloomberg.net
To contact the editor responsible for this story:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
