Energy efficiency to drive ABB through crisis
Swedish-Swiss engineering group ABB said that the battle against climate change and would lead the company through the global economic crisis.
| Related news: • Swedish business leaders slam the US and China • Britain warned of Danish climate talk collapse |
ABB, the world’s largest builder of electricity grids, said that the battle against climate change, energy efficiency and emerging markets are the three main factors that have been driving demand during the global downturn.
Some 75 percent of the growth it has seen in the past five years has come from the emerging economies, the company said in a statement during its capital market day on Friday.
“Steadily rising electricity demand, the rapid rebound of the emerging-market economies and the need to feed renewable power into existing grids require solutions for more and better power infrastructure, energy efficiency and industrial productivity,” the company’s chief executive officer Joe Hogan said, adding that the development will extend beyond the current economic cycle.
The trend will increasingly shape ABB’s research and development activities.
“Efforts to lower greenhouse-gas emissions and especially to promote renewable energy have gained new momentum under the stimulus plans of many governments”, Joe Hogan said.
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Last Updated (Friday, 11 September 2009 17:34)
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