Clean technology has come of age. Low-carbon industries have overtaken aerospace and defence combined to become one of the biggest sectors of the global economy, according to research from HSBC bank.
Revenues for low-carbon industries rose 75 per cent in 2008, the bank found, lifting sales of listed companies in the climate change sector to $534bn last year. HSBC counts renewable power generators, nuclear power, water and waste companies in its global green technology index, and takes in only the turnover that can be attributed to low-carbon activities.
