Greening businesses: update on the environmental goods and services industry in the UK

Abstract

This paper proposes that policy makers and the Higher Education (HE) sector have a special duty to support the Environmental Goods and Services (EGS) industry. The EGS industry’s market value was estimated at $550 billion in 2001. Legislation plays an important role in promoting industry demand. The HE sector has a unique role in the research and development of new sustainable processes, technologies and products, either through developing these autonomously or in collaboration with businesses. Costs hinder the diffusion of renewable energy technologies. Renewable energy sources need to be made viable by the government’s introduction of taxation and carbon tariffs. The sector is hindered by several weaknesses, such as poor ability to seek international opportunities, poor adaptability of their business strategies, lack of managerial, marketing and ICT skills and a poor ability to attract and retain high level human resources. This paper recommends that HE institutions and policy makers support the EGS industry to help the sector to overcome these limitations.