In a bid to clarify what it means by “green economy” the government has published a series of documents to help UK businesses prepare for the transition to a “greener” economy.
The compilations of documents was entitled “Enabling the Transition to a Green Economy” and were developed by Defra, BIS and DECC in response to the requests from the private sector for more clarity with regards to how the government plans to guide the UK economy towards a low carbon future.
These documents include policies and how they were put together, outlines for businesses to play their role in the transition so they are prepared for new growth opportunities, job creation and how to capitalise on the upcoming changes.
Including a timeline for the key policies and investments; a document for SMEs on what the transition means for them; three case studies highlighting how the chemicals, food and drink and automotive sectors are responding to the issues of moving to a green economy, together with additional guidance.
A green economy is an economy that can grow sustainably and for the long term using natural resources more efficiently, being more resilient and exploiting competitive advantages. As the opening statement of this visionary paper says “A green economy is not a sub-set of the economy at large – our whole economy needs to be green”.
Described by the UK Green Building Council as “a clear, stable and effective policy framework that will encourage green investment”. These documents are the first solid step towards this eagerly desired “green economy” and businesses should get on top of it straight away to start preparing themselves.
This visionary paper also provides information and advice for businesses on how to use their resource more efficiently and be prepared for price rises in raw materials, water, business energy and business gas prices.
While this document represents just the beginning of a long journey worth hundreds of billions of pounds and capable of creating hundreds of thousands of jobs, I can say for the first time the UK is on the right tracks towards a low carbon economy.