Clean Technology (CleanTech) – the products, processes and services that reduce waste and use renewable energy where possible – has benefitted in recent years from concerns over climate change. The Covid-19 pandemic has, if anything, increased its profile as reports indicate possible links between the virus and pollution from fossil fuels.
Whilst many industries are seeing the effects of the pandemic through the loss of revenue and resultant job cuts, CleanTech businesses report a more optimistic outlook. In a survey conducted across US, UK, France, Germany, Switzerland and the Netherlands by the recruitment agency Hyperion, 65% of the CleanTech businesses contacted indicated plans to recruit new staff across the remainder of 2020 with only 5% expected to reduce their workforce in that period.
Although the firms interviewed foresaw hesitation among investor groups due to the pandemic, they expressed confidence in the longer-term prospects for investment. This is a belief backed by the Energy & Climate Intelligence Unit (UK-based climate activism and advisory group) who envisage tens of thousands of renewable energy jobs being created as the green industry leads the post-COVID recovery.
A report published in June by the autonomous intergovernmental International Energy Agency indicated that three million jobs at risk in the energy industry could be saved by a switch to renewable sources. Furthermore, the same number of jobs would be created by new projects using renewable energy.
Amid calls for the UK government to back CleanTech businesses with funding, the Hyperion CEO signalled his approval of the industry. David Hunt praised “the optimism and positivity” of CleanTech businesses and their ability to “lead the economic recovery”; a timely fillip as companies such as Centrica and OVO announce job losses.