Employment and the circular economy job creation through resource efficiency in London

"Several city leagues confirm that London is the best big city to live in, to work in, and to visit – renowned for its culture, diversity, innovation and leading position in sectors such as finance and professional services. But it also has a vibrant green economy, with exceptional skills in renewable energy, carbon finance and sustainable building technologies. Indeed, a 2013 report concluded that London’s Low Carbon Environmental Goods and Services1 sector now contributes over £25.4bn to the economy, with strong growth of over 5% year on year. Three possible plausible futures to 2030 for London are considered in this analysis. In the first scenario analyses the impact of no new initiatives concludes that, by 2030, a modest 1,100 net, new circular jobs could be added. The second scenario assumes that the pace of current progress continues to 2030, resulting in an expansion of London's circular economy which could potentially create 16,000 new jobs (gross) in London in activities such as recycling, reuse, repair and remanufacturing - a 34.9% increase in London’s total circular economy jobs by 2030 and a net reduction in unemployment of around 5,500 people. In the third future, there is a transformational and extensive expansion of the circular economy which offers even greater potential for London, providing more than 40,000 new circular economy jobs (gross), reducing net unemployment in London by around 12,000 jobs by 2030. To put this into context, it represents 12.5% of our estimates of excess employment in the capital at the time of the study. Transition towards a more circular economy in London has the potential to make a real contribution to mainstream employment and with support from the right investment and policy interventions, this transition could create up to 12,000 net jobs and deliver lasting reductions in unemployment, especially in low-skilled to mid-skilled occupations, whilst simultaneously realising the substantial environmental benefits from a more sustainable resource efficient economy in London." (https://www.researchgate.net/publication/286443540_Employment_and_the_ci...)

Excel ID: 

i00126