A Green And Innovative Economy
This section covers how implementing low carbon approaches will stimulate the economy and provide jobs.
How will saving the environment improve the economy?
The Council envisions a new ‘Low-Carbon Economy’ in Sheffield, based across all sectors, through both commerce and industry, and focused on delivering new technologies and environmentally-friendly improvements to the way we live, work, travel, and produce energy. The UK government estimates the low-carbon economy will grow at four times the rate of the rest of the economy, at a rate of approximately 11% per year. This is estimated to deliver between £60 billion and £170 billion of goods and services by 2030.
The Northern Energy Taskforce sees the North of England as a potential stronghold for a leading region for low-carbon energy, with its strong reputation in nuclear engineering, battery technology and digitalisation of industry.
The Council understands that asking local businesses to switch over to low-carbon alternatives will be a challenge, but there are inherent benefits to switching over to sustainability – lower energy and utility costs, reduced waste, and resource efficiency will greatly lower overhead costs in the long-run, as well as reducing environmental impacts.
The Carbon Trust is developing programmes to support energy assessments and provide technical advice to businesses switching over to green alternatives. Business Sheffield also employs advisors who can help with decisions about remodelling businesses to be low-carbon.
A vital part of a green new economy will be digital technologies, which will enable businesses and residents to connect and share information to make better decisions regarding environmental matters – for example, real-time updates on public transport information, or managing energy demand throughout the city. New services being developed will support local growth and employment, whilst also delivering a clean environment and better quality of life for residents. By embracing innovation and creativity across all our sectors, Sheffield can harness talent and begin developing the industries of the future.
By working together with businesses, educational institutions and community organisations, the council hopes to deliver plentiful new ‘low-carbon jobs’ for local people, through vocational training and apprenticeship schemes.