Record growth over the last year pushed the UK green goods and services market past the £122bn mark, according to new government figures that reveal the low carbon economy now employs almost one million people.
The sector grew 4.7 per cent against the 2009/10 figure of £116.8bn, providing an additional £5.4bn of economic activity as green industries continued to defy the sluggish progress made by the rest of the economy.
The new report, released earlier this week by the Department for Business, Innovation and Skills, also confirms that the UK comfortably outperformed the worldwide Low Carbon and Environmental Goods and Services (LCEGS) market, which expanded by 3.7 per cent to £3.3tr. Low carbon sales activities accounted from £1.6tr of this, around 48 per cent, with renewable energy clocking up £1tr, and environmental goods and services accounting for £700bn.
As such the UK secured a 3.7 per cent share of the global market and also retained its place as the sixth largest LCEGS sector in the world, behind the US with £645bn, China on £435bn, Japan with £205bn, India at just under £205bn, and Germany at £140bn.