The net zero or clean energy sector grew by 10% last year and is now leading UK growth.
The CBI has looked at data to show it is in fact growing three times faster than anything else and providing higher wage jobs. Overall it is generating £83bn in gross value added (GVA), a measure of how much value companies add through the goods and services they produce.
The CBI says 22,000 net zero businesses, from renewable energy to green finance, employ almost a million people in full-time jobs. With salaries on average at £43,000, they pay far higher than the national average of circa £37,000.
The CBI’s chief economist, Louise Hellem told the Guardian: “It is clear, you can’t have growth without green – 2025 is the year when the rubber really hits the road, where inaction is indisputably costlier than action.
“We are approaching critical points of no return for energy security and emissions reduction. It’s really fantastic to see the growing strength of the net zero economy in the UK and we need to really continue to see that ambition.”
The report, commissioned by the Energy and Climate Intelligence Unit, looked at companies operating in the following sectors; renewable energy, electric vehicles, heat pumps, energy storage, green finance and waste management and recycling.
The net zero businesses accounted for 1.1% of the UK’s total GVA, making it bigger than the farming and advertising and market research sectors.
