Greener way forward

Chris Snow, Stoke Gabriel, Totnes.

According to a recent report from the Confederation of British Industry (CBI), the green net zero economy grew by nine per cent in 2023, in contrast to the overall economy, which grew by just 0.1 per cent. Overall, the sector provided £74bn in goods and services and supported 765,000 jobs. These tend to be high-skilled, well-paid jobs too – £44,600 on average, 23 per cent more than the UK average wage of £35,400. Furthermore, the jobs are spread out across the whole country, rather than being concentrated in London and the South-east.

Louise Hellem, Chief Economist at the CBI says: “The transition to net zero presents unprecedented opportunities for the UK to become a more resilient and productive economy while also tackling climate change.”

The report concludes: “The net zero transition will not only have significant economic benefits but will also support the UK’s efforts to become more energy independent and increase energy security in the future.”

However, it notes that policy reversals over the past year have damaged investor confidence at the same time as the US and EU are ramping up investment in clean industries.

Given that growing the economy was one of Rishi Sunak’s five pledges when he took office, it’s surprising that he should use it as a wedge issue to try and drum up a few more votes in the forthcoming general election rather than taking advantage of the unique opportunity of the energy transformation to set the UK on the path to prosperity.