The UK's net zero economy is now worth over £100bn a year and supports more than a million jobs, according to research by CBI Economics commissioned by the Energy and Climate Intelligence Unit. The analysis found that workers in the green economy earn average wages of £43,000, 11% higher than the national average of £39,000.
The sector directly employs 308,000 people in areas such as solar panel installation, home insulation, wind turbine manufacturing and electric vehicles. Including supply chains and related businesses, total employment reaches 1.1 million, contributing £105bn in gross value added – nearly 4% of UK economic output.
An estimated £455bn of potential investment in energy infrastructure is in the pipeline, spurred by government targets to decarbonise electricity by 2030 and reach net zero by 2050. Each net zero worker generates nearly £120,000 annually for the wider economy, about 1.5 times the national average.
Louise Hellem, CBI chief economist, said: “Clean power and decarbonisation are already a significant and growing part of the UK’s industrial base. The UK cannot afford to step back from an industry already contributing £100bn to the economy.” The report also identified 22,000 small businesses engaged in net zero activities.
Despite this, some political parties including the Conservatives and Reform UK have called for scrapping net zero targets. Sandra Bell of Friends of the Earth said: “The naysayers calling to dismantle climate action clearly don’t want what’s best for Britain.” Climate minister Katie White added: “The only way to shield households and businesses is by accelerating electrification and clean, homegrown power.”
