U.K. Corporate CO2-Cutting Targets Have Risen About Half, RBS Study Shows
The number of U.K. companies implementing carbon-dioxide reduction targets has risen by about 50 percent since 2008, a study by the Royal Bank of Scotland Group Plc showed.
Some 73 percent of companies based in the U.K. with annual revenue of more than 25 million pounds ($35 million) are working toward reducing CO2 emissions, the RBS study said in an e-mailed statement. The study cited expectations of higher demand for low-carbon goods and services as the reason for the increase.
The European Union operates the world’s largest carbon trading scheme. At the same time, delegates from more than 190 countries are working to draft a global climate treaty that would limit emissions of greenhouse gases into the atmosphere.
“With the global market for low-carbon goods and services expected to grow considerably in the next few years, there will be an abundance of commercial opportunities for businesses to exploit,” Tim Boag, managing director of structured finance at RBS, said in the statement.
To contact the reporters on this story: Jeremy van Loon in Berlin at jvanloon@bloomberg.net.
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net
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