The British economy (like Canada’s) is flat-lining, but the green sector is booming, growing more than 9 per cent last year
Piper Norman Fiddes attends the opening of The European Offshore Wind Deployment Centre located in Aberdeen Bay on Sept. 7, 2018 in Aberdeen, Scotland.Like Canada ’s, Britain ’s economy is in the doldrums, with falling per capita income.
For starters, politicians who decry the costs of green policies neglect to mention their benefits. I’m not even talking about the obvious benefits, such as clean air, a safer climate, healthier ecosystems or fewer forest fires. Let’s just focus on making money. The ambitious decarbonization policies adopted by British governments prior to Mr. Sunak’s U-turn created a demand for investment, technology, inventions and new skills in what is one of the country’s most dynamic subsectors.alone.
The fact is, we live in a world of constant change, and in our time a major change is toward the decarbonization of the world economy. A nation can choose to swim with that tide or against it. Even oil-rich Gulf states are riding it, investing their energy windfalls inneeded in the energy transition. Canada, with its advantages in research and skills-formation, could stand atop this wave if it wanted.
And if it chose otherwise? We already know what happens to a country that opts to focus on its existing industrial advantage to the neglect of new ones, because the 20th century produced a famous example of another resource-rich country that did just that: Argentina. Good times while they lasted, though.
So the next time someone talks about the cost of decarbonization policies and the gains that will come from scrapping them, ask them to also answer the question: What will be the future bill for this short-lived party, and who’ll get to pay it? Because there will be a bill.
Country Investment Canada Energy Britain Cleantech United States Yale University Press KPMG North Sea
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