The UK should have a clear lead on green growth, but lack of investment means it’s in danger of falling behind its competitors.
When it comes to green growth, the UK has a natural advantage. Its geographical location makes it perfect for picking some of the best opportunities for renewable resources, and its innovation and skills add valuable strength. Yet it’s in danger of falling behind in the race for green growth.
France and Germany have committed two and four times as much as much spend on the green economy as the UK respectively. And the US’s $370bn commitment over the next 10 years via the Inflation Reduction Act is unprecedented when it comes to energy and climate funding.
The Spring Budget was an opportunity to regain that competitive edge and give the UK the much-needed extra legs to keep up with and take the lead from its nearest rivals. And although we didn't hear much beyond announcements around carbon capture and nuclear, we are expecting to hear more from the government on its net zer
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