from GRIST: The US Green Economy Is Now Worth $1.3 Trillion

U.S. green economy now rakes in more than $1.3 trillion each year.

Prepare yourself for a green economic future, because according to a new analysis, low-carbon and resource-efficient businesses are now estimated to generate more than $1.3 trillion in sales in the United States each year.

The University College London study looked at the U.S. green economy from 2013 to 2016 and found that green jobs in the U.S. jumped by 20 percent — that’s 1.5 million jobs — while the coal industry saw a plunge of 37,000 jobs. The green economy now employs about 9.5 million Americans. Broken down by industry, the renewables sector — particularly wind energy — demonstrated the strongest area of growth between 2015 and 2016.

The green economy’s growth is so strong, according to the report’s authors, that further investment in the fossil fuel industry could backfire, hurting the U.S. economy as other countries double down their investments for a greener future.

“Given the climate change emergency and the employment slump in fossil fuel industry, it only makes sense that future investment should focus on growth in the green sector,” Professor Mark Maslin, a co-author of the study, said in a statement. The study’s researchers plan on updating the data beyond 2016, including a clearer vision of a global green trade.

About Bruce

Work for sustainable development of small islands; ex-Peace Corps (Volunteer and staff) in LA & Caribbean; cruised Caribbean on S/Y Meander for three years; like small tropical islands, French canals, Umbria, Tasmania, and NZ. Married 52 years to the late Kincey Burdett Potter (see Kincey.org). President of Island Resources Foundation.
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