Big companies to spend £3.5bn on new projectsApril 2010
This year’s spending on sustainability projects by large UK companies is expected to grow to £3.5billion ($5.3bn, €3.9bn) and increase further in the near future, reports the research consultancy Verdantix.
Sustainable business investment in employees, equipment, consulting, project implementation and support services is projected to grow by eight per cent in 2010, after a three per cent fall last year.
In research based on financial data from nearly 500 UK businesses, Verdantix says a large UK company with annual revenues of more than £1bn will spend on average 0.16 per cent of its turnover on climate change and sustainability programmes – or £8million per company.
The biggest item is energy efficiency (£493m), with sustainable product marketing (£289m) and industrial emissions reductions (£268m) also important. Retail is the biggest spending sector, followed by oil and gas.
Verdantix projects that the climate change and sustainability market will grow by 13 per cent next year and 18 per cent in both 2012 and 2013.
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