
The green economy has grown soĀ much in the US that it employs around 10 times as many people asĀ the fossil fuel industry ā despite the past decadeās oil and gas boom.
The fossil fuel sector, from coalĀ mines to gas power plants, employed around 900,000 people in the US in 2015-16, government figures show. But Lucien Georgeson and Mark Maslin at University College London found that over theĀ same period this was vastly outweighed by the green economy, which provided nearly 9.5Ā million jobs, or 4Ā per cent of the working age population. The pair defined the green economy broadly, covering everything from renewable energy to environmental consultancy.
Their analysis showed the green economy is worth $1.3Ā trillion, orĀ about 7 per cent of US GDP.
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The figures donāt cover the presidency of Donald Trump, who promised to protect coal mining jobs and exploit oil and gas resources. But Maslin says the figuresĀ show that Trumpās policy isĀ economically misguided.
āThe Trump administration withĀ the āAmerica firstā approach ofĀ āfossil fuels are goodā, is stupid when it comes to economics.
If you want to be a hard-nosed neoliberal economist you would say, āLetās support the green economy as muchĀ as possible.āā
The US stopped recording green job statistics several years ago, but these suggested 3.4 million people worked in the sector in 2011. Maslin and Georgeson used a muchĀ broader set of 26 sub-sectors including wind and solar power, marine pollution controls, carbon capture, biodiversity and air pollution. Maslin says the figures have been underestimated in the past, partly because the green economy is so diffuse.
Palgrave Communications DOI: 10.1057/s41599-019-0329-3