Firms' Climate Spending to Rise In 2010

[Henk Elegeert]

REPLY TO: D66 at nic.surfnet.nl

http://www.nytimes.com/reuters/2010/02/25/business/business-uk-britain-climate-spending.html?_r=1&scp=7&sq=climate+change&st=nyt
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February 25, 2010
Firms' Climate Spending to Rise In 2010
By REUTERS

LONDON (Reuters) - Large British businesses will spend over $5.3 billion
(3.46 billion pounds) on climate change initiatives in 2010, up eight
percent on the previous year, according to a report published on Thursday by
UK-based research firm Verdantix.

UK business expenditure on climate change and sustainability initiatives
fell by 3 percent in 2009, as companies had less cash in the economic
slowdown.

The climate and sustainability market will grow by 14 percent a year to
reach $8.4 billion in 2013, Verdantix forecasts.

The research group based its report on the spending of over 450 UK companies
with revenues of more than $1 billion from 2008 to 2013, taking into account
UK economic growth figures, energy and carbon prices, regulatory decisions
and innovation drivers.

Much of companies' expenditure so far has been done on a voluntary basis. A
mandatory government plan to cut corporate energy use starting in April
could spur more climate spending, though a report last week said firms were
unprepared for the scheme.

"We are still in a transitional phase. Lots of companies are investing in
pilot projects. They are waiting for clearer signals from customers,
regulators and investors to put their foot on the pedal and that will be
more like 2012 or 2013," David Metcalfe, director of Verdantix, told
Reuters.

On average, large UK firms with annual revenues greater than $1 billion will
spend 0.16 percent of revenue on their climate change and sustainability
programme in 2010.

"This equates to an average of $11.7 million per firm," Metcalfe said.

The top spenders this year will be the retail industry at $944 million and
the oil and gas sector at $637 million.

(Reporting by Nina Chestney; Editing by Sue Thomas)
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Hoeveel geeft men hier (intussen onnodig, in elk geval onbewezen) uit?

Henk Elegeert

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