A new UK report outlines the role free trade and free-market can play in accelerating the global transition to a low-carbon economy, challenging green protectionism.
The second report by the Board of Trade, Green Trade, shows “how free markets are critical to tackling climate change, enabling the free flow of information and proliferation of green technology, challenging the narrative that free trade is a threat to the environment”. It also addresses green protectionism, whereby environmental aims are used as a cover to enact “damaging protectionist policies”, the government said in a statement on June 21.
“The UK is a leader in green exports and this report shows how free trade, free markets and free enterprise can be leveraged to counteract green protectionist policies that hold back the global transition to a low-carbon economy,” said Liz Truss, International Trade Secretary.
“Free enterprise is key to the UK’s recovery from the coronavirus pandemic, to tackling climate change, and to securing a stronger and freer trading environment that directly supports jobs in regions and nations across the UK.
“Experts predict the UK’s low-carbon economy could grow by 11 per cent per year between 2015 and 2030 – four times faster than the rest of the economy – delivering between £60 billion and £170 billion of export sales in goods and services by 2030. By 2050, there could be more than 1.2 million full time workers directly employed in England’s low carbon industries,” she added.
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