UK green sector now worth four times more than manufacturing

The UK’s low carbon economy is now worth more than £200bn, four times the size of the country’s manufacturing sector, with growth expected to accelerate in the coming years, according to new analysis.

Despite what experts say has been lacklustre and patchy support from central government, the analysis found more than 75,000 businesses from wind turbine manufacturers to recycling plants employ more than 1.2 million people in the green economy.

Experts say the sector not only has the potential to help tackle the climate crisis but also create sustainable jobs and improve people’s quality of life – with cleaner transport, reduced air pollution and better insulated homes.

But they warn that if the UK is to make the necessary rapid and fair transition to a low carbon economy, the government must mobilise all sections of society – from trade unions to local authorities, community groups to businesses – behind a “national programme of transformation”.

11 August 2021

IEEFA