By Daniel Hunter
Low carbon business opportunities in Brazil and South Korea stretch into billions of pounds, two reports published by UK Trade & Investment (UKTI) reveal.
The Brazil report, written by the Carbon Trust, has identified around £125bn worth of low carbon opportunities in Brazil, while the South Korea report highlights thirty specific low carbon opportunities.
Welcoming the reports, Secretary of State for Energy and Climate Change, Edward Davey said:
“The UK is leading the way to increase electricity generation from new and renewable sources and is providing sustainable solutions that can be applied and replicated across the world.
“These reports match UK strengths to South Korean and Brazilian needs in low-carbon goods and services. In South Korea there are more than 30 specific opportunities highlighted in new and renewable energy and also green building design and materials, as well as billions of pounds of opportunities in Brazil.
“So, whether you are an SME in the low carbon supply chain, an engineering company, a consultant, an architect, an equipment supplier or a materials producer, there are opportunities for you.”
Trade & Investment Minister, Lord Green 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.”
James Wilde, Director of Innovation and Policy at the Carbon Trust, added:
“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.”
Major infrastructure developments in Brazil are creating an array of significant low carbon opportunities, particularly as the country looks forward to hosting the Football World Cup in 2014 and the 2016 Olympic Games in Rio de Janeiro.
Prospects for UK companies in South Korea are plentiful and diverse in this high income, high growth marketplace — particularly in the low carbon sector. The South Korean Government is pursuing an ambitious low carbon strategy, having made a commitment in July 2009 to spending 2% of annual GDP on the low carbon economy.
Recent completion of the EU-South Korea Free Trade Agreement also ensure that 97% of all trade tariffs will be eliminated within three years, removing barriers to trade across a wide range of sectors, including low carbon.
Over 100 UK companies attended the launch event in London where they received copies of the two reports, received advice from UKTI international trade advisors on doing business in Brazil and South Korea and heard about which UKTI services were most suitable to help grow their business overseas.
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