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 production. Show all posts
Showing posts with label production. Show all posts
Saturday, September 19, 2009
Monday, February 16, 2009
Will BMW layoff 850 workers at UK Mini plant?
BMW said on Monday that it will lay off 850 workers at its British factory which builds the Mini car to adjust to weaker demand.
The job cuts are the result of a review of operations at the factory in Cowley, near Oxford, where production will be suspended throughout this week and staff who currently work weekend shifts will be moved to weekday work, effective March 2.
BMW has 4,700 workers at Cowley, which can turn out 800 cars per day.
``While Mini has been weathering the economic downturn, it is not immune from the challenges of the current situation,'' BMW said in a statement.
``Against this backdrop the company felt that a review of its shift patterns was necessary. This decision has not been taken lightly. The plant's union representatives have, of course, been involved in the discussions.''
BMW reported earlier this month that sales of the Mini model rose 4.3 percent in 2008 to 232,425 cars. Overall, the company said sales dropped 5 percent across its product range.
In January, however, Mini sales were down 35 percent compared to January 2008. About 80 percent of the Minis built in Britain are exported.
Auto sales in Britain fell sharply at the end of the year because of the recession. Nissan has cut 1,200 jobs at its plant in Sunderland, England, while Honda has halted production at its Swindon plant for four months.
``Sacking an entire shift like this, and targeting agency workers who have no rights to redundancy pay, is blatant opportunism on BMW's part and nothing short of scandalous,'' said Tony Woodley, joint leader of the Unite union.
``BMW's parent company couldn't attempt this in Germany because it would be illegal to do so. It is a disgrace, therefore, that workers in this country can be so casually thrown to the dole.''
BMW acquired the Mini, a symbol of the swinging 1960s, when it bought the Rover car company in 1994.
Agencies
The job cuts are the result of a review of operations at the factory in Cowley, near Oxford, where production will be suspended throughout this week and staff who currently work weekend shifts will be moved to weekday work, effective March 2.
BMW has 4,700 workers at Cowley, which can turn out 800 cars per day.
``While Mini has been weathering the economic downturn, it is not immune from the challenges of the current situation,'' BMW said in a statement.
``Against this backdrop the company felt that a review of its shift patterns was necessary. This decision has not been taken lightly. The plant's union representatives have, of course, been involved in the discussions.''
BMW reported earlier this month that sales of the Mini model rose 4.3 percent in 2008 to 232,425 cars. Overall, the company said sales dropped 5 percent across its product range.
In January, however, Mini sales were down 35 percent compared to January 2008. About 80 percent of the Minis built in Britain are exported.
Auto sales in Britain fell sharply at the end of the year because of the recession. Nissan has cut 1,200 jobs at its plant in Sunderland, England, while Honda has halted production at its Swindon plant for four months.
``Sacking an entire shift like this, and targeting agency workers who have no rights to redundancy pay, is blatant opportunism on BMW's part and nothing short of scandalous,'' said Tony Woodley, joint leader of the Unite union.
``BMW's parent company couldn't attempt this in Germany because it would be illegal to do so. It is a disgrace, therefore, that workers in this country can be so casually thrown to the dole.''
BMW acquired the Mini, a symbol of the swinging 1960s, when it bought the Rover car company in 1994.
Agencies
Saturday, January 10, 2009
Canada layoffs 34,400 employees in December 2008
The Canadian economy lost 34,400 jobs in December, driving the unemployment rate to 6.6 percent, Statistics Canada said in a fresh sign of recession gripping the nation.
It was the second month of heavy job losses, after 70,600 were shed in November. The unemployment rate rose to 6.6 percent from 6.3 percent in the prior month.
The numbers were worse than most analysts's projections of 22,000 job losses and a 6.5 percent jobless rate in December.
And Finance Minister Jim Flaherty said the situation will only get worse in the short term.
"We're in for a very difficult year," Flaherty told reporters. "We regrettably are going to have to expect continuing job losses in Canada.
"We are going to have substantial job losses," he added.
December's employment decline was led by a drop in construction, one of the biggest monthly losses for that industry in the past three decades.
Some 44,000 construction jobs were lost, as housing starts decreased to their lowest level in seven years the previous month, according to the Canadian Mortgage and Housing Corporation.
This was partially offset by an increase in transportation and warehousing.
"The job market is running out of steam," said analyst Pascal Gauthier of TD Securities.
"We believe that the Canadian economy entered a recession in the fourth quarter. Or if we're not there yet, we're knocking at the door," he told the media.
Sherry Cooper, chief economist of BMO Capital Markets, echoed in a research note: "Today's dismal data offer additional strong evidence that the Canadian economy has quickly waded knee-deep into the recession swamp."
For all of 2008, Canada's employment rate increased 0.6 percent with the creation of a total 98,000 jobs, significantly slower than the 2.2 percent job growth observed the previous year.
Gauthier too commented that the dismal December figures are "indicative of what's to come."
"In a typical recession, we can expect 15,000 to 30,000 jobs being cut each month," he said.
But Canada is still faring better than its neighbor and biggest trading partner, the United States, Flaherty and analysts agreed.
The United States lost 524,000 jobs in December.
Agencies
It was the second month of heavy job losses, after 70,600 were shed in November. The unemployment rate rose to 6.6 percent from 6.3 percent in the prior month.
The numbers were worse than most analysts's projections of 22,000 job losses and a 6.5 percent jobless rate in December.
And Finance Minister Jim Flaherty said the situation will only get worse in the short term.
"We're in for a very difficult year," Flaherty told reporters. "We regrettably are going to have to expect continuing job losses in Canada.
"We are going to have substantial job losses," he added.
December's employment decline was led by a drop in construction, one of the biggest monthly losses for that industry in the past three decades.
Some 44,000 construction jobs were lost, as housing starts decreased to their lowest level in seven years the previous month, according to the Canadian Mortgage and Housing Corporation.
This was partially offset by an increase in transportation and warehousing.
"The job market is running out of steam," said analyst Pascal Gauthier of TD Securities.
"We believe that the Canadian economy entered a recession in the fourth quarter. Or if we're not there yet, we're knocking at the door," he told the media.
Sherry Cooper, chief economist of BMO Capital Markets, echoed in a research note: "Today's dismal data offer additional strong evidence that the Canadian economy has quickly waded knee-deep into the recession swamp."
For all of 2008, Canada's employment rate increased 0.6 percent with the creation of a total 98,000 jobs, significantly slower than the 2.2 percent job growth observed the previous year.
Gauthier too commented that the dismal December figures are "indicative of what's to come."
"In a typical recession, we can expect 15,000 to 30,000 jobs being cut each month," he said.
But Canada is still faring better than its neighbor and biggest trading partner, the United States, Flaherty and analysts agreed.
The United States lost 524,000 jobs in December.
Agencies
Friday, December 26, 2008
Will Japanese production plunge amid global slump?
Japanese production fell at the fastest rate on record in November as firms closed factories and cut jobs due to slumping demand brought on by the global economic crisis, according to data out Friday.
Industrial output in the world's second largest economy plunged a record 8.1 percent in November from the previous month, the ministry of economy, trade and industry said.
It was the biggest drop since the ministry began releasing output statistics in 1953 and was much worse than market forecasts of a 6.7% fall.
Production is likely to continue falling, with the ministry expecting an 8.0% drop in December and another 2.1% decline in January, as the auto industry feels the pinch.
"Overall, production is rapidly falling," the ministry said.
Unemployment meanwhile rose to 3.9% in November, worsening 0.2 percentage points from the previous month, the internal affairs ministry said.
The figure was slightly below average market forecasts of 4.0%.
The number of people out of work increased by 100,000 from a year earlier to a total of 2.56 million.
The data came as brand-name Japanese manufacturers, including Toyota Motor Corp., Sony Corp. and Canon Inc., lower production and eliminate jobs to adjust to the slump in overseas demand for their exports.
The job cuts have targeted mainly people on limited-term contracts or those who were dispatched from temp agencies.
The labour ministry said that a total of 85,012 temporary or dispatch workers have already lost their jobs or know they will be laid off by March.
The figure doubled in a month, reflecting the rapid deterioration of the employment environment for people without permanent contracts, a health ministry official said.
In other data, Japan said that core consumer prices rose 1.0 percent in November from a year earlier although they eased by 0.8 percent from the previous month.
Core consumer prices have been rising for more than a year, albeit at a slower pace than before as global energy prices come down.
Japan for a decade battled deflation, or falling prices, which sapped growth from the economy.
Source: Agencies
Industrial output in the world's second largest economy plunged a record 8.1 percent in November from the previous month, the ministry of economy, trade and industry said.
It was the biggest drop since the ministry began releasing output statistics in 1953 and was much worse than market forecasts of a 6.7% fall.
Production is likely to continue falling, with the ministry expecting an 8.0% drop in December and another 2.1% decline in January, as the auto industry feels the pinch.
"Overall, production is rapidly falling," the ministry said.
Unemployment meanwhile rose to 3.9% in November, worsening 0.2 percentage points from the previous month, the internal affairs ministry said.
The figure was slightly below average market forecasts of 4.0%.
The number of people out of work increased by 100,000 from a year earlier to a total of 2.56 million.
The data came as brand-name Japanese manufacturers, including Toyota Motor Corp., Sony Corp. and Canon Inc., lower production and eliminate jobs to adjust to the slump in overseas demand for their exports.
The job cuts have targeted mainly people on limited-term contracts or those who were dispatched from temp agencies.
The labour ministry said that a total of 85,012 temporary or dispatch workers have already lost their jobs or know they will be laid off by March.
The figure doubled in a month, reflecting the rapid deterioration of the employment environment for people without permanent contracts, a health ministry official said.
In other data, Japan said that core consumer prices rose 1.0 percent in November from a year earlier although they eased by 0.8 percent from the previous month.
Core consumer prices have been rising for more than a year, albeit at a slower pace than before as global energy prices come down.
Japan for a decade battled deflation, or falling prices, which sapped growth from the economy.
Source: Agencies
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