The Prime Minister, Peter Mandelson and Ed Miliband were meeting business leaders at a Low Carbon Industrial Summit in London to map out the UK's industrial priorities for taking advantage of the new global low carbon economy – currently estimated to be worth £3 trillion globally and employing 880,000 people in the UK.
Business Secretary Peter Mandelson said "Low carbon is not a sector of our economy, it is, or will be, our whole economy, and a global market. Today we are asking industry what more needs to be done to ensure these changes benefit to the UK economy, and what needs to be done to equip British companies to compete for business overseas. A low carbon industrial strategy must seize the opportunities that will come with change. That requires a new industrial activism for a new green industrial revolution."
Sales of Low Carbon and Environmental Goods and Services in the North East in 2007-08 were valued at £4.2 billion. There are around more than 2,000 companies engaged in the sector in the North East, employing some 37,000 people.
The North East accounts for 4 per cent of the total UK market value of LCEGS sectors, of which £600 million (14 per cent) comes from the environmental sector, the renewable energy sector makes up £1 billion (24 per cent) and the emerging low carbon sector accounts for £2.6 billion (62 per cent).
Washington-based Smith Electric Vehicles an example of the kind of business leading the way in the manufacture of road-going electric vehicles and is the world's largest manufacturer of this kind of vehicle. Hundreds of Smith's zero emission vans and trucks are in operation today with customers including Royal Mail, DHL, TNT and Sainsburys. Boasting a top speed of up to 70 mph, a range of over 100 miles and a payload of up to 7,400 kg, these vehicles are well suited for urban delivery cycles.
In February it announced a major collaboration with Ford to develop an electric version of the Ford Transit Connect for the North American market.
Regional Minister for the North East, Nick Brown said "This is the way forward for the North East. We want to play our part in tackling climate change and build new industries that will come here in the region."
New independent research by Innovas is published today. Low Carbon and Environmental Goods and Services: an industry analysis shows:
- the UK is already the sixth largest low carbon and environmental goods and services economy (LCEGS)
- in 2007-08 it was worth £106.5 billion to the UK economy, and could grow by another £45 billion over the next eight years
- there are already over 880,000 jobs in the LCEGS sector – if employment grows at projected rates, an additional 400,000 jobs could be created in the next 8 years
- just under one third (31 per cent) of overall activity is in manufacturing.
A pamphlet published today, Low Carbon Industrial Strategy: a Vision, highlights a range of companies in the UK already taking advantage of low carbon opportunity and sets out the scope and ambition of the Government's plans.
Businesses and others with an interest are asked for their input through a new interactive website to inform a final Strategy to be published before the summer.
