The Growth of the Green Market

DubaiChamber The Growth of the Green Market

Despite dissarray in the wider economy, the green market has shown steady growth. In 2007, the green market grew 8%, in 2008 asthe wider economy began feeling the effects of the most serious downturn since the Great Depression, the green market managed to grow aremarkable 3%.

Forecasts published in July 2009, by US tradepublication Environmental Business Journal (EBJ) expected a 2009 growthrate 0.6% for the US environmental industry. However, the EBJ described0.6% growth as a significant achievement given that the prevailingestimates expected the US gross domestic product (GDP) to contract by2-4%in 2009.

On June 17 2010, the Dubai Chamber ofCommerce & Industry released a newsletter that indicates theglobal market for environmental products and services will double by2020.

Established in 1965, the Dubai Chamber of Commerce &Industry is a non-profit public entity, whose mission is to represent,support and protect the interests of the business community in Dubai bycreating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

The Dubai Chamber of Commerce and Industry’s Centre for ResponsibleBusiness (CRB) has released this year’s fourth issue of its bi-monthlynewsletter, CSR Al Youm. The newsletter addresses the opportunities,competencies and complexities of the Green Market. According to thenewsletter, the green market will double from $1.37 trillion a year in2010 to $2.74 trillion by 2020.

The news that the green marketwill double in the next decade, adds to the growing number of reportsthat point to vast opportunities.