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From crisis to opportunity

From crisis to opportunity is an interesting article which suggests that the economic downturn provides a last chance to switch tracks to sustainable growth paths with green investments an engine for recovery. The article, written by two bankers, is echoed in comments from Lord Chris Smith who said that a shift to a low-carbon economy offers UK businesses their best hope of leading the world again. Smith, the chairman of the Environment Agency warned that the UK must not return to business as usual when the economy emerges from the recession, but must make a “historic shift” towards sustainability. He urged politicians to recognise that it is so important that it should override political differences within and between nations across the world. He said Government should ensure that financing the transition to a low-carbon global economy was on the agenda at the G20 meeting, which will be held in London in spring. Employees in recession-hit manufacturing sectors such as construction, car manufacturing and offshore engineering could be retrained to work in the environmental industries, he added.