The plaintive calls about global warming and loss of polar bear habitats, the stern warnings about rising seas and flooded coastlines - this is what the public hears about. Then there’s this pesky, inconvenient truth they don’t hear about: $1.5 trillion.
“Interest in climate change is becoming an increasingly powerful economic driver, so much so that some see it as an industry in itself whose growth is driven in large part by policymaking, notes Don Jergler, an analyst for Insurance Journal, an industry publication
“The $1.5 trillion global ‘climate change industry’ grew at between 17 and 24 percent annually from 2005-2008, slowing to between 4 and 6 percent following the recession with the exception of 2011’s inexplicable 15 percent growth, according to Climate Change Business Journal,” he writes.
“The San Diego, Calif.-based publication includes within that industry nine segments and 38 sub-segments. This encompasses sectors like renewables, green building and hybrid vehicles.
And the talkers, creatives and handlers too.
“That also includes the climate change consulting market, which a recent report by the journal estimates at $1.9 billion worldwide and $890 million in the U.S.,” Mr. Jergler says.