HSBC Predicts Bigger Growth for Low-Carbon Cars than Renewables Sector
Submitted by joanne on September 7, 2010 – 11:34 amNo Comment
by Damian Carrington (The Guardian) …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.
… It plays down the promise of biofuels, suggesting a market of $93bn by 2020, because of concerns over their sustainability. But McCrone says that after two to three years of decline the biofuels market has bottomed out and that the remaining companies can take confidence from the mandated targets for biofuel use in the EU. READ MORE
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