In the United Kingdom, a new Oxford report reveals green government investments are demonstrably superior to dirty investment options; they can be faster, create more jobs and boost economic growth.
Brian O’Callaghan, lead author and head of the Oxford University Economic Recovery Project, asserts that green investment makes more economic sense and helps bolster energy security, he says, ‘We suggest, if governments are going to spend, green energy makes a far smarter investment than fossil fuel.’
Analysing more than 900 papers on the economic characteristics of green spending, the research paper finds:
- Strong evidence that green energy and energy efficiency investments outperform fossil fuel investments in terms of job creation
- Energy efficiency measures, such as green retrofits, have a very rapid impact
- There are higher multipliers across green sectors compared to traditional alternatives.
