This article, from law firm McGuireWoods, is authored by D. Cameron Prell.
Author D. Cameron Prell
The global clean tech sector is showing strong signs of recovery, after valuations for leading listed clean tech companies climbed $26 billion during the last financial year. The global figures come from new research by Ernst & Young (EY), which analyses 424 companies that derive more than half of their total value from clean energy. The report calculates that the companies employed 512,500 people and boasted a combined market capitalization of $170 billion as of April 2013, up 18% on the close of the previous financial year. The financial services firm’s Cleantech Industry Performance 2013 report confirms growing demand for clean energy in the Asian-Pacific region is driving much of the improvement in the market. Growing corporate demand for energy efficiency improvements meant the number of public pure-play firms focused on the efficiency sector jumped 14% to 50, with total market capitalization rising 25% to $34.6 billion. Gil Forer, EY’s global cleantech leader, said the report confirmed that the global cleantech sector has shifted back into a growth phase, citing resource scarcity, energy security concerns, population growth and increasing consumption as growth drivers.
McGuireWoods LLP
www.mqguirewoods.com
Filed Under: News
