HSBC has come out with some interesting predictions on the future value of low carbon technologies. According to this Guardian piece:
“Low-carbon vehicles, such as electric cars, will be a bigger global market by 2020 than renewable energy, such as wind and solar power”
HSBC’s report suggests that “8.65m electric vehicles and 9.23m plug-in and hybrid electric vehicles will be sold globally in 2020, up from around 5,000 and 657,000 respectively in 2009.”
And the Guardian notes that:
“When fuel-efficiency measures and switches to lower-carbon transport such as trains and coaches are included, the report for investors predicts that the market will be worth $677bn (£440bn) a year in 2020 – up from $113m in 2009. In contrast, HSBC predicts smaller growth in the renewable energy sector, from $203bn in 2009 to $544bn in 2020.”
I’m not sure comparisons of lower carbon transport with renewable energy growth are particularly helpful here, given how different they are. But the numbers are a useful guide to how big banks like HSBC see the markets growing in the next decade.
Below are some links to recent articles we’ve published on the topic. If you are not a subscriber to Ethical Corporation, don’t worry, you can take a trial on the website to read them: