With Joe Biden’s Inflation Reduction Act and CHIPs and Science Act, and the EU’s Green Industrial Plan, industrial policy is back in vogue.

Yet after years of neglect in favour of hands-off, agnostic policymaking, governments around the world are relearning what industrial policy is and how to use it.

In this report we argue there is an urgency for policymakers to implement a green industrial strategy. Developing this requires two things. First, expanded government capabilities, and second, clear expectations and accountability for both the private and public sector.