Corporate spending on sustainability is continuing to rise, with a new study tipping green spending by business to increase 11% this year.

 

Research firm Verdantix predicts that will lift to 16% in 2011 and 24% in 2012, Greenbiz.com reports. 

 

By 2014, US companies worth more than $1 billion will invest $60 billion in green projects such as energy efficiency, carbon management and cleantech innovation.

 

Verdantix director David Metcalfe said business awareness of the benefits of sustainability was growing, but investment was being held back in the US because of the sluggish economy, delayed federal regulations and “a lack of mature programs” among smaller companies.

 

Verdantix’s model covers 29 different categories of green projects in 20 industries.

 

It predicts utility firms and auto markers would the most rapidly growing sectors, increasing their sustainability spending by 24% between 2009 and 2014.