(Justmeans.com / CSR News) -

March 18, 2010 – The Vancouver Based GLOBE foundation of Canada released research yesterday assessing the economic impacts of transitioning British Columbia toward a low-carbon economy. GLOBE found that this shift toward sustainability could be worth over $27 billion to the Province by the year 2020.

The report, titled “British Columbia’s Green Economy: Building a Strong Low-Carbon Future” identified the 6 key business sectors in British Columbia that are contributing the most to growing the province’s sustainable economy: Clean and Alternative Energy; Energy Management and Efficiency; Green Building; Environmental Protection; Carbon Finance and Investment; and Green Knowledge. By compiling primary and secondary research, GLOBE found that these 6 sectors contributed $18.3 billion to the BC economy in 2008, accounting for almost 166,000 full-time jobs and $15.3 billion of Provincial GDP (10.2% of total provincial GDP).

The Clean Energy and Energy Management sectors were responsible for 55% of total green GDP in 2008, and GLOBE believes that the greatest opportunities for future growth reside in the Energy Management and Efficiency and Green Building Sectors. By utilizing a conservative growth estimate of 2.7% and an optimistic estimate of 5%, they expect GDP growth from these sectors will fall between $21 billion and $27.4 billion.

Globe is planning to roll-out phase 2 of the study in May of this year. It will focus on key policies, programs, and educational initiatives that are contributing to the development of BC’s green economy and the associated labor market opportunities.

To download a full copy of the report, click here