This story is for anyone who’s still laboring under the delusion that those pushing for a carbon tax are doing so out of concern for you and me and our environment.
THE global climate change industry is now worth more than $528bn, powered by China’s rise as one of the top nations for climate revenues.
As the debate on setting a price on carbon in Australia continues, HSBC Global Research issued a report on climate change that showed the sector had proved resilient to the global slowdown, seeing less than a 0.9 per cent decline in revenues in 2009, as companies push ahead with plans despite political uncertainty over green policies.
“Despite concerns over the risks that governments may retreat from their pledges to deliver emission reductions and continuing uncertainty surrounding the withdrawal of regulatory incentives in key markets, global climate revenues have held up remarkably well and in 2009 stood at $US530bn for listed companies,” the report says.
The headline figure is greater than the global wireless telecoms services sector and comparable to the GDP of Switzerland, the report says.
Read more at the Wall Street Journal.