2006 New Shell Springboard Research Released

2006-10-12 13:45:49

Climate change to be £30bn opportunity for British business over next ten years.
 

James Smith, Chairman, Shell UK opens the debate.

New research commissioned by Shell Springboard and unveiled today shows that that the challenge of tackling climate change could create a market of up to £30bn for British business over the next ten years.

The research, carried out by independent consultancy Vivid Economics for Shell Springboard, quantifies for the first time the potential size of the market for businesses that develop technologies, products and services that help combat climate change. It also profiles SMEs who are already seizing this opportunity and developing businesses in this new market.

The research was discussed today at a debate, in London panelists were: Lord Oxburgh, (Chair of the Shell Springboard UK Judging panel), Lord Adair Turner, (former CBI head and Chair of the Carbon Trust Clean Energy Fund), Dr Steve Howard, (The Climate Group), Karl Watkin (D1 Oils) and report author Robin Smale (Vivid Economics).

The research also identifies major opportunities for SMEs in a wide range of markets, by both responding to consumer demand for environmentally friendly goods and to demands created by government action. The biggest identified markets for SMEs in 2010 will be:

• Building regulations for commercial and industrial use - £950m


• Renewable electricity - £800m


• Renewable road transport fuels - £500m

  Lords Ron Oxburgh and Adair Turner discuss the Shell Springboard research.



• Domestic energy efficiency - £400m


• Building regulations for domestic use - £275m

James Smith, Chairman of Shell UK, said: "For business, tackling climate change is both a necessity and a huge opportunity. This creates a huge new opportunity for British business nationally and internationally. We have to step up to the challenge. Our small businesses and the scientific depth in our universities are going to be vital contributors."

Lord Oxburgh, said: "The urgent need to reduce greenhouse gas emissions offers opportunities to the nimble. There is now scope for a wide range of devices and services, which a decade ago would have made no economic sense, and for which there would have been no demand. Shell has created the Springboard programme to help people to grasp some of these opportunities, and to take the first steps towards turning their ideas into viable businesses and products."