UK green economy worth £200bn – four times larger than the manufacturing sector
A new report has revealed that the UK’s low carbon and green economy is now worth over £200 billion, with over 1.2 million people employed within the sector across some 75,000 businesses. The green and sustainability sector is now four times larger than the UK’s manufacturing sector and is set to grow at an accelerating rate in the next few years.
Criticism has arisen recently of a lack of central government support or planning to achieve ambitious net-zero carbon emissions goals in time to slow or halt climate change. It comes as last week the Prime Minister and Chancellor called on private investors to unlock “hundreds of billions of pounds” worth of funds to fuel the UK’s Covid recovery and green ambitions.
With the government eyeing private investment as a key driver in the fight against climate change, individual investors and institutions alike will play a critical role in funding the innovators of the future. With this in mind, IW Capital has commissioned national research to determine the sectors investors are looking to back, and whether UK investors are ready to support the drive to net-zero.
The report indicates that sectors in green and sustainable fields are set to benefit from significant investment backing in the next year with 45% of UK investors looking to back these companies. Firms in the scientific field are also set to benefit as 34% of UK investors are looking to invest in the Biotech, Meditech & Pharma industries. The hospitality and creative industries are also among the most attractive to UK investors as 16% of investors are keen to support hospitality businesses and 18% are interested in the creative sectors.
The following year or so will be crucial for UK economic growth and SMEs and entrepreneurs will be key to that given that they make up 99.9% of the private sector and employ nearly 60% of the workforce. The investment community that backs these firms will, therefore, be equally important so it is hugely encouraging to see this optimism and activity.
To find out more about IW Capital, or for more information on investment and non-executive opportunities, please speak to a member of the IW Capital team today on 020 7015 2250, or email info@iwcapital.co.uk