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    Climate change, net zero and the employment myth (Columbia Threadneedle)

    by Iain Richards, Head of Global Responsible Investment Policy at Columbia Threadneedle Investments

    The world is changing and not just because of climate change. How companies and governments respond to the change will have significant implications, economically and competitively as well as for employment, which we will focus on in this article.

    As a research-driven investment house, identifying, analysing and understanding the trends and changes that impact, or will impact, our investments is at the heart of our “thematic” research focus. It was in that context that a recent UK report entitled “Getting to Zero” caught our attention. It has been cited under press headlines suggesting that as many as 10 million UK jobs would be at risk from the UK’s transition to net zero over the next three decades. Is that really the potential implication of the UK’s decarbonisation plan? We think not.

    Will net zero boost employment growth?

    A good starting point here is a commentary on the report published by Alex Brown at the London School of Economics’ Grantham Institute, which raised important questions about it. The need for caution about the methodology used, as well as the failure to understand wider changes taking place or the job creation potential of policy responses to climate change, is important.

    Click here to continue reading this research article

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