Here’s a new report from IBISWorld listing the industries that are cashing in on American’s poor environmental habits.
Revenue from the waste collection industry is said to have risen 4.5 percent to $39.87 billion, following several strong years in terms of increased demand for waste management services. Recycling facilities currently generate estimated revenues of $2,981 million a year, and growth has exceeded 7 percent per year for the past five years due to rising waste volumes and increasing recyclable commodity prices.
In the business world, environmental consulting firms (and perhaps soon lawyers?) is expected to have revenues of $12.6 billion this year, up 9.7% from 2007. Next year is said to be even better with industry revenue forecast to rise another 11.3 percent to $14.07 billion. IBISWorld also pointed out the growing services of advisory firms (I thought that’s the same as consulting firms??).
And of course the alternative energy sector is the most talked about industry area to invest in.
“Companies dealing with innovative solution to climate change are expected to benefit at the prospect of big breakthroughs and the funds that will pour through in future years if they are able to develop cost-effective, environmentally-friendly alternatives to petroleum.”