HSBC says revenues for climate change related businesses like efficiency and climate finance are going straight to the moon.
In 2008, they grew 75% to $530 billion. By 2020, they could be $2 trillion.
Reuters: The climate sector has surpassed the size of the global aerospace or defence industry, with the United States, Japan, France, Germany and Spain accounting for 76 per cent of global climate revenues, the report found.
For revenues to rise to $2 trillion, the way energy is generated and used needs to change and continued government support is needed.
The four core investment pillars will be low-carbon energy production, energy efficiency, control of water, waste and pollution and climate finance, the report said.
Energy efficiency recorded the highest investment returns in the year to date at 30 per cent, followed by carbon finance at 24 per cent.
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