Firms in the UK should look to Brazil and South Korea for low carbon business opportunities.
That’s according to two reports published by UK Trade & Investment (UKTI), which shows billions of pounds of contracts are available in the two economies.
The Brazil report, written by the Carbon Trust, showed the South American country has around £125 billion worth of low carbon opportunities across a range of sectors. This includes waste management, water treatment, ethanol and biomass, automotive and buildings.
It particularly highlighted the anaerobic digestion sector and low-energy buildings solutions as potential areas of interest. Brazil is the world’s sixth largest economy and is in the top four countries for UK exports of low carbon goods and services.
James Wilde, Director of Innovation and Policy at the Carbon Trust said: “Brazil is committed to growing its expanding economy in a low carbon way. This creates a huge commercial opportunity for British businesses as they are leaders in many of the cutting edge low carbon technologies and services required to achieve this.”
The report on South Korea showed more than 30 specific opportunities in new and renewable energy and also green building design and materials. The country is the fourth largest economy in Asia and 12th largest in the world and has a target of cutting 30% of carbon emissions by 2020.
Lord Green, Trade & Investment Minister said: “As countries like Brazil and the South Korea look to further reduce their energy consumption, the UK is in a great position to lead the global transition to a low carbon economy.
“Companies in our low carbon sector are recognised globally for their innovation and expertise. UK firms are now well placed to take advantage of international opportunities, particularly following the London 2012 Olympics where sustainability and low carbon initiatives played key roles in seeing the Games recognised as the most sustainable ever.”
Global sales of low carbon and environmental goods and services were £3.3 trillion in 2010/11. The UK market is the sixth largest in the world, worth £117 billion and employes more than 914,000 people.