Overview
Industrial strategy has a key role in helping polluting industries to decarbonise, while also developing the low carbon industries of the future in growth sectors like wind power, electric vehicles, hydrogen and advanced materials.
The US, with its Inflation Reduction Act under the Biden administration, has put huge resources into greening its industries. China and the European Union are doing the same. The UK, with more limited resources, can still do a lot to help its green industries thrive by focusing on R&D, smart regulation and demand-side measures to encourage uptake of new, cleaner technologies.
The government’s proposed industrial strategy is a good start, but there is a lot of work still to be done.
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