According to the London Stock Exchange Group’s latest analysis (July 2024) the global green economy is forecast to grow significantly – some 13.8% – in the next decade.
They point out that if it was listed as an independent sector it would have generated an annual revenue pool of almost $5trillion which would have made it the 4th largest ahead of banks, retail and energy. This is a global sector on the up.
Driving growth are improvements in energy management and efficiency, followed by the green tech sector with renewable energy and electric vehicle tech leading the way – in spite of regulatory and supply chain challenges.
Moving towards net zero is inspiring global green energy transition as more governments look for alternatives to fossil fuels.
To stimulate greater growth in the future, sights are seriously set on a number of digital technologies including AI and data centres. AI is being used to design climate solutions, which are dependent on data centres, with their own challenges around energy and water consumption to meet. Developing renewable energy projects to power data centres is a significant opportunity for the sustainability sector.
The LSEG’s key finding is that the green economy is ‘prosperous and expanding’ but managing its collaboration with the fast-moving digital tech industry is critical for future growth.
Sue comments: “I have been working in the data centre sector for around nine months and understanding the role they will play in the future is fascinating. Stories of their net zero strategies also need to be told as AI steps in to help us solve the big climate issues of our day. Exciting times.”
