India, other emerging mkts more optimistic on tackling climate

Emerging market economies, including India and China, are more optimistic than the rest of the world in terms of concern, personal commitment and the belief that climate change can be stopped, a survey by HSBC Holdings said.

According to HSBC's "Climate Confidence Monitor", one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.

Moreover, two thirds (64 per cent) of respondents in China claimed that they have been making significant efforts to contribute their bit in reducing climate change, compared to 23 per cent in the UK, 20 per cent in the US and 11 per cent in Japan.

"The climate business sector is growing fast and emerging markets are leading the way. Governments are pushing ahead with decarbonising their economies and businesses are responding by producing more low carbon goods and services," HSBC Europe, Middle East and Global Chairman Stuart Gulliver Businesses said.

The survey further said that climate change is one of the top three concerns globally, on a par with economic stability and terrorism. In Hong Kong and Vietnam, climate change is the number one concern.

"Over half of respondents in Brazil, India and Malaysia strongly agreed their country would prosper and new jobs would be created by responding to climate change," the report said adding the scene is less optimistic in the UK and the US, where a third of people believe business opportunities and economic prospects presented by climate change is encouraging.

The survey, which included response from over 15,000 respondents across 15 markets also called for greater business investment to address climate change.