£112bn Green Growth Will Drive UK Recovery
The Carbon Trust has released new research saying the environmental and low-carbon market is worth more than £112bn a year in the UK and employs more than 900,000 people. It is forecast to grow by 25 per cent over the next four years, and will drive the UK economy.
Carbon Trust chief executive Tom Delay said: "Green growth is the only show in town; no other sector can drive the recovery.
"The consequences of British business failing to grasp this opportunity are almost too horrific to consider: anaemic growth, a jobless recovery and the risk of a return to the economics of boom and bust. We cannot afford to carry on as we did before.
"Businesses need to look beyond the short-term financial reporting cycle and place some smart, early bets on the future. Otherwise the cost, both to the UK's economy and to the environment, will be too great to ignore."
One UK chief executive Terry Last said: "Focusing on green growth and developing a lower carbon economy is not only essential for delivering on the UK's
climate change commitments; it is also critical to unlocking important economic opportunities for us all."
The study found that UK business leaders believe Germany is better prepared than the UK to take advantage of the £3.2 trillion global environmental market. Only 13% cited the UK as the most prepared nation. The potential is there, with 92% of UK business leaders think green growth presents an opportunity for their business.
360investgroup
