Low-carbon technology is rapidly becoming big business, and the competition to capture it will be fierce. The global market for climate-friendly ‘cleantech’ goods and services, worth £3 trillion in 2008 and projected to reach £4.5 trillion by 2015, is driven by powerful long-term trends – accelerating resource depletion, growing environmental awareness and increasingly aggressive climate policy. Manufacturing accounts for a significant share of this market, especially in some of the fastest-growing sectors such as renewable energy.
It is vital that the UK is one of the most attractive locations for investment in cleantech industries.
On balance, the UK remains a long way from being the best country in the world for manufacturers of low-carbon technology. However, there are strong foundations and encouraging recent progress which can be built upon.
This report puts the UK’s business environment under the microscope, assessing the pros and cons of the UK as a location for cleantech manufacturing and focusing on three key aspects of the business environment: the skills of the workforce, the tax system and the business support available.