UK businesses are being urged to look to Brazil and South Korea for low-carbon opportunities, in the wake of two reports published by UK Trade & Investment (UKTI).
According to the Brazil report by the Carbon Trust, the South American nation is now the world’s sixth largest economy and offers some £125 billion of low-carbon opportunities, particularly in biofuels where it is a leader in bio-ethanol production.
The report, Brazil: the $200 billion low carbon opportunity, particularly highlights anaerobic digestion expertise and equipment, aerospace and automotive components and low-energy building solutions as areas of potential interest.
Meanwhile, the companion report on South Korea identifies more than 30 specific opportunities, with interest most specifically focused on renewable energy. The country boasts the fourth largest economy in Asia and has set a target of reducing carbon emissions 30% by 2020.
Just this week, the South Korean government pledged to double its target for emissions reductions from its industrial and power sectors next year ahead of the introduction of a cap-and-trade scheme in 2015.
“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,” says Trade & Investment Minister, Lord Green.
The summer’s Olympic Games in London served as an ideal showcase for home-grown sustainable and low-carbon products and services.
“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,” he adds.
Brazil is also committed to growing its economy in a low-carbon way but its undertaking major infrastructure developments ahead of its hosting of the Football World Cup in 2014 and the 2016 Olympic Games in Rio de Janeiro.
“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,” says James Wilde, director of innovation and policy at the Carbon Trust.
For further information:
South Korea pledges to double 2013 emissions reduction target (16-Oct)
South Korea moves ahead with cap and trade scheme (3-May)
GE to supply Brazil’s wind energy expansion (7-Dec 2010)
Iberdrola wins contract for nine wind farms in Brazil (7-Sept 2010)
17 October 2012