The Green Economy in Bristol and the West of ... - Miguel Mendonça

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Section 1: Development in Green Technologies
decarbonisation have petered out in the face of
immediate economic difficulties. Yet, the markets for
low carbon goods and services have prospered
despite the economic downturn. From 2005 to 2010,
total global capacity of many renewable energy
technologies grew at rates of between 15% and 50%.
In 2005, just 55 countries had renewable energy
promotion policies of some kind. By early 2011 this
had risen to 118. Globally, the sector employs over
3.5 million people directly, and is attracting growing
investment; 2010 saw $211 billion invested
worldwide, up from $160 billion in 2009. Renewables
made up nearly half of the 194 GW of new electricity
generation capacity added in 2010. 5 The UK added
The methodology section of the Low Carbon and
Environmental Goods and Services (LCEGS) Report
for 2009/10, published by the Department for
Business, Innovation and Skills (BIS) in July 2011,
details the challenges of establishing definitions and
scope. Their definition emerged from five years of
work with government and UK industry
0.9 GW of onshore and offshore wind capacity and
was in the top three nations for biomass additions in
2010. London’s financial sector helped the UK
become number two in the world in carbon finance
the same year.
Clearly, the private sector has warmly welcomed the
commercial opportunities that climate action
presents. The following section explores the growth
in the sector most readily associated with ‘the green
economy,’ that of Low Carbon and Environmental
Goods and Services (LCEGS), referred to as
Environmental Technologies (ET) in the iNet
analysis.
Low Carbon and Environmental Goods
and Services (LCEGS)
Table 2. LCEGS: 24 Subsectors and Global Sales 2009/10 in £m
associations. They state that definitions of LCEGS
are evolving, and that it is an umbrella term,
currently covering around 2,800 activity subheadings
in the Standard Industrial Classifications
(SIC), including both supply chain activities
(componentry & assemblies) and value chain
activities (R&D, Supply & Training). The report
The Green Economy in Bristol and the West of England