Evidence9 March 2010
Here are some reasons why a green economy is a smart economy.
Good for jobs
The Government estimates there will be 400,000 new jobs in the UK environmental sector by 2015.
These areas include:
- low-carbon vehicles
- recycling facilities
- insulation
- renewable energy
- green building
The Carbon Trust says wind and wave power alone will provide 250,000 new jobs by the middle of the century.
Fighting climate change
A green economy could cut emissions by 40 per cent by 2020, according to research.
This is the minimum cut in emissions scientists says we need to tackle climate change.
Saves the UK money
British businesses, schools and hospitals can save billions of pounds a year from energy efficiency measures.
Meeting our 2020 renewables and energy efficiency targets could save the UK £12 billion a year in less imported oil, coal and gas.
Protects the UK from economic damage
Acting now to protect the environment will protect our economy.
The 2006 Stern Review found the costs of tackling climate change would be around 1% of annual global GDP.
But the economic costs of doing nothing were 5-20%.
Lord Stern has since said he "badly underestimated" these damages and risks.
