The green economy sector in the United Kingdom grew in all parameters reaching a grand total of 46.7 billion ($61 billion) in turnover as well as generating nearly a quarter of a million jobs according to latest estimates released Thursday by UK's official statistics bureau
MOSCOW (Pakistan Point News / Sputnik - 16th January, 2020) The green economy sector in the United Kingdom grew in all parameters reaching a grand total of 46.7 billion ($61 billion) in turnover as well as generating nearly a quarter of a million jobs according to latest estimates released Thursday by UK's official statistics bureau.
According to the UK's Office of National Statistics (ONS) annual report on the scope of the low carbon and renewable energy economy (LCREE), turnover grew by nearly five percent year on year in 2018 adding over 2 billion worth of economic activity to the UK economy in a single annum.
Furthermore, the job market added just under 5,000 full-time equivalent (FTE) from 2017 to 2018. Full-time equivalent is metric used to gauge employment by measuring the number of paid hours against the legal workday of full-time employment.
Additionally, ONS estimate that 8.1 billion were invested into the green economy over the Calendar year
In the annual retrospective study, the ONS says it samples as many as 24,000 businesses in England, Scotland, Wales and Northern Ireland, looking at renewable energy production and consumption, manufacture and export of energy efficient goods and vehicles and other factors.
Comparing to 2015, the first year the study was conducted, most metrics grew by 10-15 percent.
Despite public and political spheres being dogged by ongoing Brexit chaos since 2016, the UK consistently ranks near the top in charts studying environmental policy and green economies.
