UK ranks sixth in G7 for investment in net zero infrastructure, says report

The UK is lagging far behind its G7 peers in green jobs and investment plans, according to a report from the Trades Union Congress (TUC).

The TUC analysis, published yesterday, shows the UK ranking sixth for investment in net zero infrastructure, with only Japan scoring less. 

The report comes a week after UK Chancellor Rishi Sunak called on the G7 to work together to deliver a ‘green recovery’. 

Frances O’Grady, TUC general secretary, said: “Good green jobs should be at the heart of our economic recovery from the pandemic. But the prime minister’s plans are nowhere near ambitious enough.

“The UK is falling well behind the rest of the G7 in the race to benefit from net zero industry.

“The government should look to the rest of the G7, and put more money into green jobs and infrastructure. It’s a chance to replace the jobs lost in the pandemic and level up the UK.”

Whilst the UK Treasury has pledged to invest £180 per person on green recovery and jobs, the TUC analysis shows the USA is planning to allocate over £2,960 per person on green recovery, jobs and programmes such as public transport, electric vehicles and energy efficiency retrofits. 

This amounts to the UK investment being just 6% of the USA’s.

Green recovery investment per person is £1,390 in Italy, £600 in Germany and £870 in Canada. Of the seven nations, only Japan is investing less per person, at £108.

Ranked by total green recovery investment, the UK comes bottom of the list.

In its report, the TUC calls on the government to use the opportunity of the G7 to allocate £85 billion for emergency green infrastructure. 

Research commissioned by the TUC by Transition Economics showed that such an investment could create 1.24 million jobs.

A government spokesperson from the UK Treasury said: “Our Ten Point Plan will see £12 billion invested to create 250,000 jobs across the UK and could unlock three times as much private investment – and to spur further green investment this year we plan to issue £15 billion in green bonds and have set up a UK Infrastructure Bank.

“The UK was the first country in the world to commit to making climate reporting mandatory across the economy, and we look forward to discussing how other countries can take action at the G7 Finance Ministers meeting.”

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