A new report conducted by EEF and Deloitte has shown the manufacturing sector to be comfortably positioned to take advantage of the business opportunities presented by the climate change combat targets.
“Moving into a low carbon economy will create significant business opportunities and UK industry is well placed to exploit them,” said EEF chairman Martin Temple. “However, this will only happen if companies are quick to identify these opportunities and move swiftly to take advantage of them. The government also needs to back industry with a strategy that provides leadership, overcomes the barriers and helps develop the capabilities needed to deliver a low carbon economy.”
One area which holds particularly good prospects for industry is low carbon vehicle production – UK manufacturers hold knowledge and expertise essential to the design and development of hybrid vehicle technology.
However, the report also noted the many hurdles that stand between industry and low carbon economy success. “Ambitious manufacturers are determined to employ carbon efficient production methods to deliver climate friendly goods that can contribute towards meeting the UK’s targets. However, they will need some assistance in making this happen,” said Jane Lodge, UK manufacturing industry leader at Deloitte.