The News Green News Investment in green IT will continue to grow despite weak Copenhagen agreement on CO2 says investment bank Jefferies
31 December 2009
Despite the Copenhagen climate change conference not coming up with the goods, there will be continued growth in green IT investment, says investment bank Jefferies.
Jefferies' CleanTech investor survey, based on responses among over 200 participating institutional investors, found that government subsidies and a general recovery of the credit and broader financial markets were the most important drivers for green IT growth - not a strong agreement at Copenhagen on global CO2 emission cuts.
Investors are confident that government subsidies are likely to remain the same or increase. As a result, the investment community is positive in their outlook towards the broader clean technology sector.
Europe is seen as leading the pack ahead of the US and Asia in terms of driving green IT innovation, said survey respondents.
Bruce Huber, head of Jefferies' European CleanTech investment banking group, said, "Europe continues to be perceived as a major innovation hub for CleanTech, which may be why continued incentive plans at the country level that nurtured the European CleanTech industry are seen as more crucial to investment and continued growth than the outcome at Copenhagen."
He said, "What is clear is that both local government incentives and transnational policies aimed at putting the brakes on climate change are fundamental to the continued growth of the CleanTech industry."
