UK net zero economy valued at over £100bn annually, CBI report finds
A new analysis by CBI Economics, commissioned by the Energy and Climate Intelligence Unit, finds that the UK’s net zero economy is worth more than £100bn a year. The report states that the sector supports 1.1 million jobs when supply chains are included, with direct employment in renewable energy and green technology businesses accounting for 308,000 positions. Workers in the net zero economy earn an average salary of £43,000, approximately 11% higher than the national average of £39,000. An estimated £455bn of potential investment in energy infrastructure is in the pipeline, spurred by government decarbonisation targets. The report notes that some political parties and figures, including the Conservatives, Reform UK, and former prime minister Tony Blair, have called for scrapping net zero targets. CBI chief economist Louise Hellem said turning away from net zero would be economically harmful. The analysis is the fourth in a series by the ECIU and CBI Economics, which previously found the net zero economy growing three times faster than the rest of the UK economy.
What’s reported
Net zero economy worth more than £100bn a year in gross value added.
Supports 1.1 million jobs including supply chains; 308,000 directly in businesses like solar, wind, and electric vehicles.
Average net zero worker salary is £43,000, 11% above the national average of £39,000.
£455bn of potential investment in energy infrastructure is in the pipeline.
22,000 small businesses are engaged in net zero activities.
Each net zero worker generates nearly £120,000 per year for the wider economy.
Net zero economy accounts for nearly 4% of UK economic output.
Report by CBI Economics for the Energy and Climate Intelligence Unit (ECIU).
Conservative and Reform UK parties want to scrap net zero targets; former PM Tony Blair has also called for ending net zero.
North Sea oil and gas jobs have declined by 200,000 since 2013.
Wider green economy (including waste, water, nature) accounts for over 600,000 direct jobs, per the Office for National Statistics.
Key figures
Louise Hellem, chief economist for the CBI.
Sandra Bell, climate campaigner at Friends of the Earth.
Katie White, minister for climate.
Tony Blair, former Labour prime minister.
Sources: The Guardian
