LONDON (AFP) – Britain’s green economy grew in 2023 to buck a broader recession, according to a report released on Tuesday that urged politicians heading into a general election to stick with climate-friendly investments.
The United Kingdom’s (UK) “net-zero economy” – from electric cars to carbon capture and renewables like solar and wind power – increased nine per cent to GBP74 billion (USD94 billion) year-on-year, said the study by think-tank Energy and Climate Intelligence Unit in conjunction with business lobbyists CBI and The Data City research group.
The overall British economy slipped into recession in the last six months of 2023, according to recent official data.
“Against the backdrop of economic stagnation, the net-zero economy is bucking the trend,” said ECIU director Peter Chalkley on Tuesday.
“Thousands of jobs depend on net-zero… right across the country.
“The question now is will political parties provide the leadership, stability and investment needed to generate further growth or shy away from the global race for net-zero?” Chalkley questioned.
Net-zero businesses, supply chains and employee spending together amounted to 3.8 per cent of Britain’s gross domestic product last year, supporting hundreds of thousands of jobs, the report added.
