Most economic developers treat net zero as a compliance exercise. They shouldn’t.
Here’s what the evidence actually shows:
Green industries in the UK already contribute £71 billion in GVA. They support 840,000 jobs at an average wage of £42,600 (versus £33,400 nationally). Productivity? 1.7 times the national average.
Yet I consistently see strategies that:
- List every possible green sector (you can’t lead in everything)
- Focus on new “green jobs” whilst ignoring transition of existing industries
- Lack any serious analysis of local competitive advantage
The North of Tyne got this right. Their 2022 strategy focused on THREE things:
- Growth where they ALREADY have industry advantage (offshore wind, EVs)
- Business retention through managed transition to low carbon
- Just transition – because 2,000 displaced workers remind us that “green growth” without fairness isn’t economic development
The opportunity is massive. But here’s the uncomfortable truth:
❌ The UK’s Climate Action Tracker rating? “Insufficient”
❌ Credible policies cover only ONE-THIRD of required reductions for 2030
❌ Similar gaps exist across Belgium, France, Netherlands, Germany
National governments are failing to deliver. Which means LOCAL economic developers must lead.
This isn’t about waiting for perfect policy frameworks. It’s about:
- Identifying YOUR genuine green competitive advantages (not copying everyone else)
- Supporting existing employers through transition (not just chasing new FDI)
- Building the infrastructure that enables green industries NOW
- Ensuring workers and communities aren’t left behind
I’m teaching this in our Green Economy course at https://www.economicdevelopment.world because practitioners need practical frameworks, not aspirational platitudes. The transition is happening whether you’re ready or not.
The question: will your locality shape it, or be shaped by it?
(This draws on Chapter 18 of my forthcoming Local and Regional Economic Development Handbook – 31 years of lessons learned the hard way)
#EconomicDevelopment #GreenEconomy #NetZero #JustTransition #RegionalDevelopment #Sustainability
