A better future won’t happen without better industrial policy

The Green Economy Coalition advocates for a fair green industrial strategy in the UK, criticizing the Labour Party for abandoning its £28 billion green investment pledge. The document highlights the US Inflation Reduction Act (IRA) as a successful example of structural policymaking that leverages private investment—estimated by Goldman Sachs at $3 trillion—into renewable energy. It argues that government leadership through clear, long-term commitments and mandatory net zero targets is essential to attract business investment, ensure energy security, and protect vulnerable workers during the transition from fossil fuels.

• The US Inflation Reduction Act (IRA) provides approximately $400 billion to support clean energy, electrification, energy efficiency, methane emission reduction, domestic manufacturing, and environmental justice.
• Goldman Sachs estimates that the IRA will leverage around $3 trillion in private investment for renewable energy technologies, including solar, wave, and wind power.
• The UK risks falling behind internationally as other regions implement major green packages, such as the EU's €250 billion Green Deal Industrial Plan and Canada's $60 billion clean energy subsidy plan.
• Effective green industrial policy provides multiple societal benefits, including cheaper home energy bills, greater energy security, the creation of future-proofed green jobs, and improved public health through cleaner air and better transport.
• The Green Economy Coalition criticizes the UK Labour party for abandoning its manifesto commitment of £28 billion for a fair green economic transition, arguing that policy inconsistency undermines business confidence and slows investment.

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} }