UK export opportunities in the low-carbon economy - Grantham Research Institute on climate change and the environment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/lcgs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK export opportunities in the low-carbon economy - Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"og:description\" content=\"This policy brief outlines the opportunities and threats to trade in low-carbon goods and services in the UK.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/lcgs\/\" \/>\n<meta property=\"og:site_name\" content=\"Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-19T13:37:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-content\/uploads\/2017\/04\/UKexport.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"324\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/lcgs\\\/\",\"url\":\"https:\\\/\\\/www.lse.ac.uk\\\/granthaminstitute\\\/publication\\\/lcgs\\\/\",\"name\":\"UK export opportunities in the low-carbon economy - 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{"id":21690,"date":"2017-04-24T00:01:26","date_gmt":"2017-04-23T23:01:26","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication&p=21690"},"modified":"2024-08-19T14:37:06","modified_gmt":"2024-08-19T13:37:06","slug":"lcgs","status":"publish","type":"publication","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/lcgs\/","title":{"rendered":"UK export opportunities in the low-carbon economy"},"content":{"rendered":"\n

This policy brief outlines the opportunities and threats to trade in low-carbon goods and services in the UK.<\/p>\n

Headline issues<\/strong><\/p>\n

\n
UK firms must be able to compete in the low-carbon global economy of the future.<\/li>\n
The UK is currently devising an Industrial Strategy that aims to cultivate world-leading sectors that encourage trade and investment. Low-carbon exports must be a part of this.<\/li>\n
As countries implement their Paris pledges, there will be expanding export opportunities for the UK and other countries for low-carbon goods and services – a market potentially worth £1.0–1.8 trillion a year by 2030.<\/li>\n
The UK’s current strengths lie in high-value services and areas where it is an effective low-carbon innovator such as electric motors, electricity distribution and domestic appliances.<\/li>\n
Threats to the UK’s current areas of comparative advantage come from cleaner competitors such as Germany and Japan.<\/li>\n<\/ul>\n
Recommendations<\/strong><\/p>\n
There are six steps the government can take now to help UK firms become global leaders in low-carbon trade:<\/p>\n
\n
The Department for Business, Energy and Industrial Strategy (BEIS)<\/strong> should make low-carbon research, innovation and skills a cross-cutting issue of the Industrial Strategy, in order to cultivate world-leading sectors that encourage trade and investment.<\/li>\n
BEIS<\/strong> should devise an effective Clean Growth Plan, consistent with the fifth carbon budget, which allows UK firms to develop expertise for the low-carbon economy, exploit ‘home market effects’ and become competitive in the global marketplace.<\/li>\n
BEIS<\/strong> needs to carry out more analysis on low-carbon services and assess the opportunities for leveraging the UK’s existing advantage in high-value services.<\/li>\n
The Department for International Trade (DIT)<\/strong> should make low-carbon goods and, in particular, services a cornerstone of the UK’s international trade strategy post-Brexit.<\/li>\n
The DIT<\/strong> should secure a strong plurilateral Environmental Goods Agreement (EGA) to support free trade in low-carbon goods, complemented by bilateral deals on key sectors not covered by EGA.<\/li>\n
The Foreign and Commonwealth Office<\/strong>, Department for International Development<\/strong> and BEIS<\/strong> are implementing the UK’s commitment to help developing countries in their low-carbon transition. Their efforts could be coordinated with those of the DIT <\/strong>to advance that transition and create new low-carbon markets.<\/li>\n<\/ol>\n
<\/em><\/p>\n
The analysis in this brief builds on discussions from an ESRC-sponsored workshop on how the UK can capitalise on global opportunities for low-carbon goods and services. Held in London in March 2017, the workshop was attended by government and business stakeholders. <\/em><\/p>\n\n","protected":false},"excerpt":{"rendered":"\n
This policy brief outlines the opportunities and threats to trade in low-carbon goods and services in the UK.<\/p>\n\n","protected":false},"author":53,"featured_media":21781,"template":"","tags":[301,589,437,106],"publication-type":[1682],"topic_area":[4696],"class_list":["post-21690","publication","type-publication","status-publish","has-post-thumbnail","hentry","tag-competitiveness","tag-industrial-strategy","tag-uk","tag-uk-policy","publication-type-policy-publications","topic_area-uk-emissions-policy"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"downloads":{"ref_value":"field_52f16cc1a80f2","value":["https:\/\/www.lse.ac.uk\/granthaminstitute\/wp-content\/uploads\/2017\/04\/Carvalho-and-Fankhauser-2017.pdf"],"type":"download","post_type":""},"rss_newsletter":{"ref_value":"field_54f5c2c1544d8","value":"","type":false,"post_type":""},"profile_link":{"ref_value":"field_52f164b5189e9","value":["maria-carvalho","samuel-fankhauser"],"type":"relationship","post_type":"profile"},"spotlight":{"ref_value":"field_52f80896506d3","value":"","type":false,"post_type":""}},"yoast_head":"\nUK export opportunities in the low-carbon economy - 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