IPPR has responded to new figures from the ONS which show an increase in the turnover and employment estimates for the low carbon and renewable energy economy.
Luke Murphy, associate director for the energy, climate, housing and infrastructure team, said:
Today's ONS assessment shows that the UK risks falling behind in the global green race, just as our allies and economic competitors such as the United States are unleashing significant interventions to boost their economies and accelerate towards net zero.
While the growth in the low-carbon and renewable economy is positive, overall, the UK's progress in growing the green economy over the best part of a decade has been decidedly unspectacular. It's estimated that there are thousands fewer businesses operating in these sectors than in 2014, and the number of jobs has only increased by 5 per cent over the same period.
Before the UK falls out of the race altogether, the UK government needs to step up public investment, offer longer term and more ambitious policies from energy efficiency to clean transport, and back them with a serious green industrial strategy. Failure to do so will see the UK fall behind economically and undermine our progress towards our climate goals.
CONTACT
Liam Evans, Senior Digital and Media Officer: 07419 365334 l.evans@ippr.org
David Wastell, director of news and communications: 07921 403651 d.wastell@ippr.org
NOTES TO EDITORS
- IPPR is the UK's pre-eminent progressive think tank. With more than 40 staff in offices in London, Manchester, Newcastle and Edinburgh, IPPR is Britain's only national think tank with a truly national presence. www.ippr.org
- IPPR released a report calling on the government to go further and faster in 2020: https://www.ippr.org/files/2020-07/faster-further-fairer-ejc-interim-may20.pdf
- IPPR released a report last year which found that increasing investment in net zero was an economic, environmental, and political necessity'. https://www.ippr.org/research/publications/green-investment-prudent-choice-prosperity
- The final report of IPPR's Environmental Justice Commission released in 2021 set out the comprehensive policy platform needed to reach net zero, restore nature and maximise and fairly share the opportunities of the green transition. https://www.ippr.org/research/publications/fairness-and-opportunity