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Entrepreneurs Panel

UK business to increase green spending

British businesses will spend over £3.4billion on climate change initiatives in 2010, up 8 per cent on the previous year, according to research firm Verdantix.

UK business expenditure on climate change and sustainability initiatives fell by 3 per cent in 2009, as companies had less cash in the economic slowdown.

The climate and sustainability market will grow by 14per cent a year to reach $5billion in 2013, Verdantix forecasts.

The research group based its report on the spending of over 450 large UK companies.

Much of companies' expenditure so far has been voluntary.

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