Global revenues from climate-related businesses such as energy efficiency rose by 75% in 2008 to $530 billion and could exceed $2 trillion by 2020, HSBC Global Research estimated.
In the 2006 Stern Review on the economics of climate change, climate-related revenues were forecast to climb to $500 billion by 2050. “We can see that this seemingly huge figure has already been surpassed well ahead of time as more and more businesses adapt their business model,” said Joaquim de Lima, global head of quant research for equities at HSBC.
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% 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%.
“This is a very significant trend given the substantial share of climate stimulus funds that have been directed at energy efficiency and energy management by governments across the globe,” HSBC analysts said.
Agencies
Showing posts with label businesses. Show all posts
Showing posts with label businesses. Show all posts
Saturday, September 19, 2009
Thursday, April 16, 2009
New email server for Microsoft
Microsoft Corp said it will launch a test version of its Exchange Server, marking the latest development in the technology used by 65 percent of businesses worldwide to run their email systems.
The public beta test version of Exchange Server 2010, as the product is called, is the first of a wave of upgrades to Microsoft programs as the software giant gears up for the next release of its highly successful and profitable Office suite of applications.
Microsoft, which is gradually moving toward Internet distribution for some of its products to counter threats from Google Inc and other new competitors, said the latest Exchange Server can work entirely as an online service, which may attract customers looking to save money on hardware and support for their email and messaging systems.
For users, the new Exchange Server offers a few innovations, including the ability to "mute" streams of email, or opt out of conversations of limited interest to the recipient.
The new system also offers a range of tips to avoid embarrassment or wasting time, by warning users before they send mail to large distribution groups, to out-of-office recipients or to people outside the organization, which Microsoft hopes will protect against information leaks and reduce unnecessary e-mail messages.
It also has a function to transcribe voice messages sent to the computer. The full public roll-out of Exchange Server 2010 is scheduled for the second half of 2009 while Microsoft's Office 2010 is expected to be available in the first half of 2010.
Agencies
The public beta test version of Exchange Server 2010, as the product is called, is the first of a wave of upgrades to Microsoft programs as the software giant gears up for the next release of its highly successful and profitable Office suite of applications.
Microsoft, which is gradually moving toward Internet distribution for some of its products to counter threats from Google Inc and other new competitors, said the latest Exchange Server can work entirely as an online service, which may attract customers looking to save money on hardware and support for their email and messaging systems.
For users, the new Exchange Server offers a few innovations, including the ability to "mute" streams of email, or opt out of conversations of limited interest to the recipient.
The new system also offers a range of tips to avoid embarrassment or wasting time, by warning users before they send mail to large distribution groups, to out-of-office recipients or to people outside the organization, which Microsoft hopes will protect against information leaks and reduce unnecessary e-mail messages.
It also has a function to transcribe voice messages sent to the computer. The full public roll-out of Exchange Server 2010 is scheduled for the second half of 2009 while Microsoft's Office 2010 is expected to be available in the first half of 2010.
Agencies
Tuesday, February 10, 2009
One in four US companies plan salary freeze
About a quarter of businesses in America have frozen workers' salaries for 2009 in the wake of a pessimistic economic outlook, according to a new survey.
Outsourcing and consulting firm Mercer in a survey released Monday said 25 percent of organizations surveyed said they have already decided not to raise their employees' pay, and another 20 percent are considering a salary freeze this year.
A year ago, just 5 percent of companies planned to suspend raises for their staff. Mercer predicted that one in three companies will have frozen wages at 2008 levels by the end of 2009.
"It's not an easy message to communicate to employees, but we think managers will be aided by the unprecedented context of these difficult decisions - including low inflation and high unemployment," said Steve Gross of Mercer.
Those companies that plan on offering raises to their employees will give smaller-than-expected pay increases, Mercer said. The average expected salary bump at those businesses was just 3.2 percent, down from a planned 3.6 percent according to an October study.
The news comes as many employers are opting to slash jobs rather than reduce or freeze pay. Announced layoffs so far this year have already topped 300,000, and the Labour Department reported Friday that employers slashed 598,000 jobs in January - the single highest monthly job-loss total since December 1974.
Mercer also reported that executives are far less likely to get a salary increase than other employees in 2009. According to the survey, just 61 percent of companies are planning to raise their executives' pay, and 77 percent of respondents plan to decrease the level of executive compensation from their October projections.
Only 69 percent of employers plan to raise salaries for employees in managerial positions.
"Given lacklustre corporate performance and recent pressure from regulators, shareholders and the president (Barack Obama), it's not surprising to see that over the past few months, more than one-third of participants who reported executive salary data went from a 2009 planned base-salary increase for their executives to a freeze," said Gross.
Agencies
Outsourcing and consulting firm Mercer in a survey released Monday said 25 percent of organizations surveyed said they have already decided not to raise their employees' pay, and another 20 percent are considering a salary freeze this year.
A year ago, just 5 percent of companies planned to suspend raises for their staff. Mercer predicted that one in three companies will have frozen wages at 2008 levels by the end of 2009.
"It's not an easy message to communicate to employees, but we think managers will be aided by the unprecedented context of these difficult decisions - including low inflation and high unemployment," said Steve Gross of Mercer.
Those companies that plan on offering raises to their employees will give smaller-than-expected pay increases, Mercer said. The average expected salary bump at those businesses was just 3.2 percent, down from a planned 3.6 percent according to an October study.
The news comes as many employers are opting to slash jobs rather than reduce or freeze pay. Announced layoffs so far this year have already topped 300,000, and the Labour Department reported Friday that employers slashed 598,000 jobs in January - the single highest monthly job-loss total since December 1974.
Mercer also reported that executives are far less likely to get a salary increase than other employees in 2009. According to the survey, just 61 percent of companies are planning to raise their executives' pay, and 77 percent of respondents plan to decrease the level of executive compensation from their October projections.
Only 69 percent of employers plan to raise salaries for employees in managerial positions.
"Given lacklustre corporate performance and recent pressure from regulators, shareholders and the president (Barack Obama), it's not surprising to see that over the past few months, more than one-third of participants who reported executive salary data went from a 2009 planned base-salary increase for their executives to a freeze," said Gross.
Agencies
Saturday, January 17, 2009
Citi posts $8.29 bn loss, splits up company
Citigroup Inc unveiled a broad restructuring plan designed to shed weaker businesses and troubled assets, and also reported an $8.29billion fourth-quarter loss, its fifth straight quarterly loss.
The company also said on Friday that it anticipated more departures from its board, which is losing Robert Rubin as a director later this year. Nevertheless, Citigroup shares rose 8.6 percent to $4.16 in premarket trading.
Citigroup's fourth-quarter loss equaled $8.29 billion, or $1.72 per share, and compared with a year-earlier loss of $9.8 billion, or $1.99 a share.
"I think people knew it was going to be bad, but I'm surprised it's this bad," said Matt McCormick, portfolio manager at Bahl & Gaynor Investment Counsel in Cincinnati.
The bank said it was splitting into two operating units, one of which will focus on universal banking, the other on brokerage and retail asset management, local consumer finance, and a pool of assets that require special management.
Revenue fell 13 percent to $5.6 billion, reflecting weak capital markets. The company's global credit card business saw revenue decline 27 percent on weakness in North America.
Consumer Banking revenues declined 22 percent, driven by a 47 percent drop in investment sales. And its institutional clients group, securities and banking revenues were negative $10.6 billion, mainly due to net losses and write-downs of $7.8 billion.
"Our results continued to be depressed by an unprecedented dislocation in capital markets and a weak economy," Chief Executive Vikram Pandit said.
Agencies
The company also said on Friday that it anticipated more departures from its board, which is losing Robert Rubin as a director later this year. Nevertheless, Citigroup shares rose 8.6 percent to $4.16 in premarket trading.
Citigroup's fourth-quarter loss equaled $8.29 billion, or $1.72 per share, and compared with a year-earlier loss of $9.8 billion, or $1.99 a share.
"I think people knew it was going to be bad, but I'm surprised it's this bad," said Matt McCormick, portfolio manager at Bahl & Gaynor Investment Counsel in Cincinnati.
The bank said it was splitting into two operating units, one of which will focus on universal banking, the other on brokerage and retail asset management, local consumer finance, and a pool of assets that require special management.
Revenue fell 13 percent to $5.6 billion, reflecting weak capital markets. The company's global credit card business saw revenue decline 27 percent on weakness in North America.
Consumer Banking revenues declined 22 percent, driven by a 47 percent drop in investment sales. And its institutional clients group, securities and banking revenues were negative $10.6 billion, mainly due to net losses and write-downs of $7.8 billion.
"Our results continued to be depressed by an unprecedented dislocation in capital markets and a weak economy," Chief Executive Vikram Pandit said.
Agencies
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