New jobs must come from a “renaissance” in UK manufacturing and expansion of knowledge based industries where low carbon technology will play a vital role – Business Secretary Lord Mandelson has stated.
He told today's Job Summit: “The global market for low carbon and environmental goods and services is currently worth about £3 trillion, and it is projected to grow strongly over the next decade as both the developed and the emerging world makes the shift to low carbon or post-carbon.
“There are over 800,000 people in the UK employed in this sector once you factor in the supply chain.
Renewable and low carbon opportunities
“Many of them are employed in renewable energy industries, but around half are employed in emerging low-carbon areas such as alternative fuels and low carbon design and development.
'There are also tens of thousands of people employed in services industries like environmental consultancy and carbon finance. So this is a job revolution that cuts right across all sectors of the economy.
“The UK's environmental goods and services sector is the sixth biggest globally and is projected to grow substantially over the next decade. If the UK takes advantage of the opportunities available and realizes this growth, we could see over a million jobs in this sector by the middle of the next decade.“
Low carbon procurement will aid competitiveness
Lord Mandelson said the sector would be “fearsomely competitive” and the Government would have to take a lead by developing procurement strategies which encourage low carbon companies, through encouraging the right skills base and investing in the right research.
He said: “When we launch proposals for the government's low carbon industrial strategy in a few weeks time, it will include commitments to doing all this and more.”