The UK is struggling to keep up in the “global green race” to develop clean technology and services, an independent thinktank has claimed.
A review by the Green Alliance says that a lack of political leadership is threatening to undermine UK competitiveness in fast-growing international green markets.
The thinktank reviewed the performances of 12 businesses, including international engineering companies, energy firms and cleantech producers.
Its report found that the UK has performed well so far in global green markets, but said that other countries have been more ambitious and efficient. It says that Germany, China and South Korea have all done more than the UK to identifying priority low-carbon technologies for development, and has backed them with long-term financial support.
In particular, the report claims that infighting over policy within the Conservative party is holding the UK’s green sector back.
Matthew Spencer, director of Green Alliance, said, “Cleantech businesses contribute billions to the UK bottom line, but they feel like they are being used as a political football in a broader battle for the soul of the Conservative party.
“Our competitors are raising their game, and Conservative ministers will have to be less equivocal in their commitment to low carbon if they want the UK to remain a leader in global green markets.”
The review argues that the government needs to act to restore confidence in the UK as a low-carbon investment destination by investing in new projects. It also recommends that the government create a £100m public green venture capital fund and encourage the development of new international green markets by campaigning for ambitious targets in the EU 2030 climate package
Earlier this month it was reported that the global cleantech industry employed over half a million people and had a combined market capitalisation of $170 billion (£109 billion) as of April 2013.
The industry has gone through a “challenging period”, due to fiscal issues and the financial crisis, according to Ernst & Young’s global cleantech leader Gil Forer, but the report indicates a growth of 18% from the previous financial year.
Forer added, “The cleantech sector globally has shifted to growth. Resource scarcity, energy security concerns, population growth and increasing consumption, by expanding middle classes in emerging markets, will continue to drive this cleantech market growth.”
Like our Facebook Page
Can You Use Your PC In an Eco-Friendly Manner?
How Pain Management Hurts the Environment, and What You Can Do to Help
4 Countries That Have Banned Single-Use Plastic
What Is Your Carbon Footprint and How Can You Reduce it?
How Business Leaders Can Positively Impact Water Scarcity
Plant-Based Protein Coffee is Eco-Friendly & Healthy
Eco-Friendly Restaurants That Are Bringing the Outside Inside
5 Environmental Benefits of Custom Manufacturing
How to Reduce the Carbon Footprint of Your Office
Benefits of Starting an Eco-Friendly eCommerce Business
Brian Sheth and Sheth Sangreal Foundation Donate $15 Million to Global Wildlife Conservation
Eco-Friendly Gardeners Can Make Compost from Organic Waste
8 Great Tips to Find an Eco-Conscious Moving Company
Can Employers Help the Planet with Work from Home Policies?
Creating a Green Basement Environment for a Healthier Home
Switching to an Electric Car to Help the Environment? Here’s How to Find the Cheapest Insurance
More People Are Practicing Eco-Conscious Lawn-Care
Choosing the Best Air Filter as Pollution Levels Worsen
9 Tips to Write Stellar Papers as an Environmental Science Major
Why You Need to Know These Hard Facts About Ethical Investing
- Energy3 months ago
How To Choose the Right Solar Inverter for Your Home?
- Energy3 months ago
How to Choose the Best Solar Panel for Your Home
- Environment10 months ago
Importance of Using a Water Purifier in an Area with High Pollution
- Environment3 months ago
Reduce Industry Footprints with Sustainable Material Swaps