A better future won’t happen without better industrial policy

The Green Economy Coalition (GEC) argues that a fair green economic transition requires strong government leadership, smart policy, and significant investment, criticizing the UK Labour Party for abandoning its £28 billion green investment pledge.

• The Green Economy Coalition asserts that the transition to a fair green economy cannot occur spontaneously and requires government-led ambition, political will, and substantial investment to avoid failure.
• The US Inflation Reduction Act (IRA) is cited as a successful model of green structural policymaking, providing approximately $400 billion to support clean energy, electrification, energy efficiency, domestic manufacturing, and environmental justice. Goldman Sachs estimates the IRA will leverage around $3 trillion in private investment for renewable technologies including solar, wind, and wave power.
• The GEC argues that government commitments, such as mandatory net zero targets, enable businesses to strategize for a shared future. Benefits of such industrial policy include future-proofed green jobs, lower home energy bills, increased energy security, and health improvements like cleaner air and fewer climate-related deaths.
• The document criticizes the UK's current trajectory, specifically the Labour Party's decision to drop its £28 billion manifesto commitment to a fair green economic transition. The GEC warns that policy inconsistency undermines business confidence and risks leaving the UK behind as other nations, such as Canada (spending $60 billion) and the EU (planning a €250 billion Green Deal Industrial Plan), implement clean energy subsidies.

APA

McLean, J. (2024). A better future won’t happen without better industrial policy. Green Economy Coalition. https://www.greeneconomycoalition.org/news-and-resources/a-better-future-wont-happen-without-better-industrial-policy

Chicago

McLean, Jean. A better future won’t happen without better industrial policy. Green Economy Coalition, 2024. https://www.greeneconomycoalition.org/news-and-resources/a-better-future-wont-happen-without-better-industrial-policy.

Wikipedia

{{cite press release |last1=McLean |first1=Jean |title=A better future won’t happen without better industrial policy |publisher=Green Economy Coalition |date=6 February 2024 |url=https://www.greeneconomycoalition.org/news-and-resources/a-better-future-wont-happen-without-better-industrial-policy |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{mclean2024better, author = {McLean, Jean}, title = {{A better future won’t happen without better industrial policy}}, publisher = {Green Economy Coalition}, year = {2024}, month = feb, url = {https://www.greeneconomycoalition.org/news-and-resources/a-better-future-wont-happen-without-better-industrial-policy}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }