The CBI (Confederation of British Industry - an organisation that represents business leaders) has just released a report about the economic benefits of "green" industries. Currently in the UK they contribute £71 billion a year to UK GDP, employ 840,000 people, and wages in these jobs pay £10,000 a year more than the overall average wage.
Now I am an environmentalist (so therefore biased)- but the CBI are not. So it is very revealing that they are saying that despite whatever climate change benefits these industries might have, they have a large positive effect on the economy.
For me and many others, this seems like a rare and valuable opportunity for the UK. If we develop our green industries, not only we will improve climate change, but profitable businesses and high quality jobs will also be created.
The UK has been a global leader in these industries, especially those related to renewable energy. There are signs, however, that this competitive advantage is under threat, particularly from the USA whose green businesses are benefitting from huge subsidies via Biden's Inflation Reduction Act (see post 249). Many economists believe the UK can continue to compete well, but that a well thought-out industrial plan from the government will be essential.
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