Sector report: Green tech

From tax breaks to IFRS reporting, the green tech sector has a very specific set of challenges for accountants, says Sarah Perrin

The green tech sector is where many economies, from the UK to China, are pinning their hopes for future revenue growth. Opportunities for developing products and services for domestic and international markets already exist, but these are set to increase as pressures to reduce carbon emissions and run more sustainable businesses intensify.

Renewable energy generation and the development of products that increase energy efficiency are vibrant areas in the green tech sector. ‘Technologies that help with energy efficiency are well positioned,’ says Vincent Neate, KPMG UK head of climate change and sustainability.

‘Companies with specific energy efficiency products around buildings, for example, are facing significant export markets. A chief executive recently told me that he could see one international contract being equivalent to seven times his previous business. That creates quite astonishing opportunities.’

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