The prediction that the transition to a green or low carbon economy will result in a booming demand for so-called green collar workers is already being borne out in government policies. President Obama’s plan to turn around the US economy includes a USD150bn investment in green energy over the next ten years, driving America towards energy independence whilst creating five million ‘green collar’ jobs. Similarly, high levels of demand for green collar construction workers are being seen in the UK. The government’s commitment to ensure that all new homes qualify as zero carbon by 2016 had provided impetus for construction firms to invest in developing green building skills. The value of the refurbishment market alone will be £4bn (approximately USD6.3bn) a year.
For Asian economies, the challenge in facing the green market as well as the resource crunch is twofold. First is the availability of economic capital to simulate growth and drive the necessary transition. Second is the implementation of those green policies and targets. The availability of skilled human capital could be the real limiting factor in this respect.
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Author: Jayanthi Naidu Desan
