With the UK seen to be lagging behind Germany in the race to become a green technology leader, the Carbon Trust is lobbying government through its new Green Growth Alliance.
In a survey the organisation carried out, two in five UK manufacturing bosses said Germany is best prepared to take advantage of the £3.2 trillion global low carbon and environmental market. Only one in seven citing the UK as the most prepared nation.
Additionally, while 91% of UK manufacturers believe green growth represents an opportunity for their business, only a third are actually investing money in the research and development of green products and services.
In response, the Carbon Trust has initiated a green growth campaign and has sent an open letter to the press backed by Green Growth Alliance of 30 of Britain’s biggest businesses, which calls on government to put the issue at the top of its agenda.
“Green growth is the only show in town,” said Carbon Trust CEO Tom Delay. “No other sector can drive the recovery. The consequences of British manufacturers 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.
“Manufacturers and other 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.”
The UK currently employs over 900,000 people in low carbon and environmental industries.
Click here to read the Green Growth Alliance’s letter, backed by signatories from companies including PepsiCo, Asda, Allied Bakeries and O2.
