The Green Economy in Bristol and the West of ... - Miguel Mendonça
The Green Economy in Bristol and the West of ... - Miguel Mendonça
The Green Economy in Bristol and the West of ... - Miguel Mendonça
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10<br />
Section 1: Development <strong>in</strong> <strong>Green</strong> Technologies<br />
decarbonisation have petered out <strong>in</strong> <strong>the</strong> face <strong>of</strong><br />
immediate economic difficulties. Yet, <strong>the</strong> markets for<br />
low carbon goods <strong>and</strong> services have prospered<br />
despite <strong>the</strong> economic downturn. From 2005 to 2010,<br />
total global capacity <strong>of</strong> many renewable energy<br />
technologies grew at rates <strong>of</strong> between 15% <strong>and</strong> 50%.<br />
In 2005, just 55 countries had renewable energy<br />
promotion policies <strong>of</strong> some k<strong>in</strong>d. By early 2011 this<br />
had risen to 118. Globally, <strong>the</strong> sector employs over<br />
3.5 million people directly, <strong>and</strong> is attract<strong>in</strong>g grow<strong>in</strong>g<br />
<strong>in</strong>vestment; 2010 saw $211 billion <strong>in</strong>vested<br />
worldwide, up from $160 billion <strong>in</strong> 2009. Renewables<br />
made up nearly half <strong>of</strong> <strong>the</strong> 194 GW <strong>of</strong> new electricity<br />
generation capacity added <strong>in</strong> 2010. 5 <strong>The</strong> UK added<br />
<strong>The</strong> methodology section <strong>of</strong> <strong>the</strong> Low Carbon <strong>and</strong><br />
Environmental Goods <strong>and</strong> Services (LCEGS) Report<br />
for 2009/10, published by <strong>the</strong> Department for<br />
Bus<strong>in</strong>ess, Innovation <strong>and</strong> Skills (BIS) <strong>in</strong> July 2011,<br />
details <strong>the</strong> challenges <strong>of</strong> establish<strong>in</strong>g def<strong>in</strong>itions <strong>and</strong><br />
scope. <strong>The</strong>ir def<strong>in</strong>ition emerged from five years <strong>of</strong><br />
work with government <strong>and</strong> UK <strong>in</strong>dustry<br />
0.9 GW <strong>of</strong> onshore <strong>and</strong> <strong>of</strong>fshore w<strong>in</strong>d capacity <strong>and</strong><br />
was <strong>in</strong> <strong>the</strong> top three nations for biomass additions <strong>in</strong><br />
2010. London’s f<strong>in</strong>ancial sector helped <strong>the</strong> UK<br />
become number two <strong>in</strong> <strong>the</strong> world <strong>in</strong> carbon f<strong>in</strong>ance<br />
<strong>the</strong> same year.<br />
Clearly, <strong>the</strong> private sector has warmly welcomed <strong>the</strong><br />
commercial opportunities that climate action<br />
presents. <strong>The</strong> follow<strong>in</strong>g section explores <strong>the</strong> growth<br />
<strong>in</strong> <strong>the</strong> sector most readily associated with ‘<strong>the</strong> green<br />
economy,’ that <strong>of</strong> Low Carbon <strong>and</strong> Environmental<br />
Goods <strong>and</strong> Services (LCEGS), referred to as<br />
Environmental Technologies (ET) <strong>in</strong> <strong>the</strong> iNet<br />
analysis.<br />
Low Carbon <strong>and</strong> Environmental Goods<br />
<strong>and</strong> Services (LCEGS)<br />
Table 2. LCEGS: 24 Subsectors <strong>and</strong> Global Sales 2009/10 <strong>in</strong> £m<br />
associations. <strong>The</strong>y state that def<strong>in</strong>itions <strong>of</strong> LCEGS<br />
are evolv<strong>in</strong>g, <strong>and</strong> that it is an umbrella term,<br />
currently cover<strong>in</strong>g around 2,800 activity subhead<strong>in</strong>gs<br />
<strong>in</strong> <strong>the</strong> St<strong>and</strong>ard Industrial Classifications<br />
(SIC), <strong>in</strong>clud<strong>in</strong>g both supply cha<strong>in</strong> activities<br />
(componentry & assemblies) <strong>and</strong> value cha<strong>in</strong><br />
activities (R&D, Supply & Tra<strong>in</strong><strong>in</strong>g). <strong>The</strong> report<br />
<strong>The</strong> <strong>Green</strong> <strong>Economy</strong> <strong>in</strong> <strong>Bristol</strong> <strong>and</strong> <strong>the</strong> <strong>West</strong> <strong>of</strong> Engl<strong>and</strong>