IOM3 responds to industrial strategy green paper

IOM3 has submitted a response to the UK Government’s consultation on a modern industrial strategy.

In October 2024, the UK Government published a Green Paper, Invest 2035: the UK’s modern industrial strategy setting out and inviting views on its vision for a modern Industrial Strategy. The paper identified eight sectors deemed to be growth-driving; advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences and professional and business services. It explained that the Strategy’s primary objective will be to deliver ‘long-term sustainable growth’ that is supportive of ‘Net-zero, regional growth, and economic security and resilience.’

IOM3 responded to the Green Paper setting out the integral role of materials in underpinning all eight of the growth-driving sectors. Their effective management across the full lifecycle will be essential to the success of the strategy and driving the Government’s growth mission.

In its submission, IOM3 called for alignment and mutual recognition between Government initiatives including the upcoming decarbonisation and circular economy strategies. 

Key challenges and opportunities identified in the IOM3 response include:

• The need for a cross-cutting, strategic approach to materials – to provide the certainty businesses need to invest and to address the risks associated with access to materials.
• Better materials stewardship and driving the transition to a more circular economy – building resource security and delivering the objectives of the strategy by keeping materials and their value in the economy.
• Decarbonisation and transition of the foundation industries – in particular where this supports UK sovereign capability and resource security.
• Materials research, development and innovation – including optimising
• People and skills – there are significant and growing skills gaps across materials, minerals and mining sectors that play vital roles underpinning the growth sectors identified.

It highlighted that constant change is problematic and impairs both investment and innovation. The Industrial Strategy Advisory Council could be a key element in reassuring investors and innovators that there is a long-term consistent direction of travel for industrial strategy in the UK. It can also provide reassurance that Government measures are soundly based on evidence from all stakeholders. IOM3 suggested that it would be helpful to all this if the ISAC had the power to provide advice to Ministers that it then would make public, along the lines of the Climate Change Committee.

IOM3, other professional bodies and their networks provide insight from a range of expert perspectives and can help to inform the analysis.

Read the full IOM3 Policy response: