UK 'a hotbed of low carbon technology investment’

The report states that the UK attracts 41 per cent of the total venture capital and private equity investment in low-carbon companies in the EU.

The Race to Capture the Carbon Pound: The UK’s Place in the Global Market for Low Carbon Innovation also noted that the global low-carbon energy market could be worth up to £2,000 billion by 2030.

If this occurs, it would be of comparable worth to markets such as steel and wheat.

The report, which was commissioned by Shell Springboard, also suggested that small businesses in particular are attracting a large share of investment in low-carbon technologies. 43 per cent of the £755,000 investment made between 2006 and 2008 is going to smaller firms.

The report suggests climate change entrepreneurship could provide a bigger opportunity than the dot.com boom of the late 90s.

Meanwhile, sports car maker Lotus is taking part in a £100 million initiative, part-funded by Lloyds TSB and the car industry, to develop low-carbon vehicles, reports Business Weekly.