Whereas US President Donald Trump may be “the world’s most powerful climate change denier,” our latest research suggests that he took over a thriving green economy. By new data, by 2016, it was generating more significant than $1.3 trillion in annual income and employed approximately 9.5 million people—making it the most significant new market on the planet. It has been rising quickly, too—between 2013 and 2016, each the business’s worth and employment figures grew by 20%.
For a while, financial information on the new financial system in lots of international locations has been lacking. Within the US, the Bureau of Labor Statistics stopped measuring jobs within the green economy resulting from finances cuts. This meant that US politicians weren’t capable of making informed decisions about the relative merits of supporting the new business or backing fossil fuels—as Trump had pledged to do during his 2016 campaign.
To fill this information hole, we analyzed massive databases to report the most recent obtainable enterprise transactions from each nation on the planet. We estimated gross sales income and employment figures throughout 24 financial sub-sectors masking renewable vitality, environmental safety, and low-carbon items and providers—collectively termed the new economic system. We used this identical standardized technique throughout all international locations, permitting us to make significant comparisons between them.
Our research estimates that income within the world’s new financial system was $7.87 trillion in 2016. At $1.3 trillion, the US made up 16.5% of the worldwide market—the most important on this planet.