“When Do You Upgrade a Sector Definition?”
The Low Carbon Environmental Goods and Services (LCEGS) taxonomy is a definition of the Green Economy which includes 2,769 activities from across the economy, that provide goods or services that contribute to the reduction in carbon, improve energy efficiency, provide renewable energy or environmental benefits.
It has been used by National, Regional and Local Government Departments across the UK since 2007/08.
The continued reporting of the same definition has the benefit of longevity, has been rigorously tested and is widely accepted as a robust definition of the sector. It allows comparison of market across the UK, because the same activities are measured.
The LCEGS definition is still in use, with 2021/22 UK data available.
However, elements of the Green Economy have matured and new sub-sectors are the focus of policy….
It’s time to release and extended definition: LCEGS2023
Since the LCEGS taxonomy was developed in 2007/08, the market has undergone changes in focus such as the prominence of Air Source Heat Pumps, Hydrogen and Electric Vehicles in current policy decisions.
As a result, the LCEGS definition of 2,769 activities within 24 sub-sectors has been upgraded to 5,133 activities across 36 sub-sectors, to form the LCEGS2023 definition.
The LCEGS2023 Upgrade Includes:
Example LCEGS Report: Midlands Net Zero Hub
Example LCEGS2023 Report: County Durham’s Green Economy