Environment

World Bank: SMEs have $1.6tr clean tech opportunity

09/10/2014

(Source: Green Eco Net)

A $1.6tr clean tech opportunity awaits small and medium sized enterprises (SMEs) in developing countries, according to new World Bank estimates.

The organisation expects SMEs to seize more than a quarter of the $6tr expected to be invested in clean tech over the next decade, with the most promising opportunities arising in onshore wind, solar panels, electric vehicles, small hydro, and wastewater treatment technologies.

In a new report released yesterday the World Bank highlights the ability of clean tech opportunities to not just attract investment and create jobs, but also generate societal benefits, noting that the roughly 80 per cent of the Kenyan population not served by the electricity grid represents a vast market for solar and biogas SMEs.
It adds that clean technology jobs often compare favourably to jobs in other sectors, requiring higher skill levels and delivering better pay and on-the-job safety.

The report also includes a set of actions that can help countries build local green industries and support SMEs in areas such as market development, innovative finance, entrepreneurship and business acceleration, technology development, and legal and regulatory frameworks.

James Rawlins, associate director at the Carbon Trust, which contributed to the report, said the deployment of clean technologies represents "a huge opportunity for developing countries" to reap substantial economic rewards.

"We are already seeing real innovation from developing world SMEs in adapting products for local needs and developing new business models," he added. "Enabling and accelerating this should be a priority for policymakers at global and local levels."