UK’s low carbon sector could be worth over £200bn

1 min read

New research suggests that the UK’s low carbon sector could be worth over £200bn, that's almost 4 times larger than the country’s manufacturing sector.

The low carbon sector recorded growth of over 7 per cent prior to the pandemic, contracting 9 per cent last year, but is expected to have returned to strong growth this year.

The report, which was commissioned for the Guardian newspaper, suggested that there is a broad and fast growing mix of companies in this space but that the sector is very ad hoc, with some sectors racing ahead of others – suggesting that the UK Government needs to set out a much clearer plan for the sector both in terms of financial and regulatory support.

The UK Government has come in for considerable criticism over its lack of policy detail and mixed messaging, for example announcing further investment and support for fossil fuels.

With around 75,000 firms in the UK’s green sector employing over 1.2 million people it’s time for some radical and joined up government thinking to support this fast growing sector.