The US and UK Govs have just supercharged growth in the Green Industrial Revolution, it is a once in a generation opportunity: Are you ready?

One of the most significant mega-trends for businesses in the coming decade is the green agenda. We are at a tipping point, with Governments around the World committing to revolutionise the way we live and work in order to accelerate the path to net zero. The UK Government has announced ￡12B investment in the Green Industrial Revolution and is aiming for private investment three times that, creating 250,000 jobs in the process. The Biden administration is committing trillions of dollars to things like the New Green Deal which aims to make the US a 100% clean energy economy by 2050 and, in the process, create millions of new, highly-skilled jobs.

The impact will be three-fold for today’s businesses. Firstly, they will need to ensure they meet new legislative demands, such as making their buildings and supply chains compliant. Secondly, they will need to make their products and services more environmentally friendly, think auto manufacturers switching to electric vehicles. Finally, there is opportunity to create new revenue streams from new propositions, products and services that don’t currently exist.

This third growth category is an opportunity, not only for larger corporates, but for start-ups too. There are the obvious ideas, which directly reflect the UK Government’s ten-point plan, such as carbon capture technology, hydrogen enabled transportation, solutions for aviation, etc. but there are also ‘consequential’ ideas that need research, creative thinking and experimentation to find.

If we look back to the Roaring 1920s, we can see that the increasing availability of electricity and privately owned cars, fuelled by private and government investment in infrastructure, created new business opportunities and jobs far beyond the auto and electricity industries and, ultimately, a decade of rapid growth. Electricity, for example, meant home appliances became practical, whilst investment in roads and the car industry, meant a need for petrol stations, roadside cafes, mechanics, new hotels, etc.

Here's an example of this consequential area for the Roaring 2020s: When we all have batteries in our houses, there will be an opportunity for electricity capture within the home. Perhaps there is space for a simple gadget that collects the kinetic energy from the washing machine that charges our battery? There will be hundreds, if not thousands, of other ideas.

New markets and revenue streams will emerge and, to stay ahead, businesses need to already be thinking about and creating the future in primary and consequential markets. They need to be investing in R&D, prototyping and launching new products and services to meet the coming demand. The US and UK Governments have just supercharged growth in the Green Industrial Revolution, it is a once in a generation opportunity to deliver step-out growth. Are you ready?