The UK’s net zero sector is set to grow by 10% by 2024, generating £83bn and nearly a million well-paid jobs, according to the CBI.
The sector Clean energy and sustainability in the UK is growing three times faster than the rest of the economy, According to a report by the Confederation of British Industry (CBI), by 2024, companies focused on renewable energy, electric vehicles, energy storage and green finance generated £83 billion in gross value added (GVA) and almost a million jobs, with salaries 30% higher than the national average. While some political parties criticize net zero targets, data shows that the green economy not only reduces emissions, but also boosts the country’s growth and energy security.
The economic engine of the green transition
The CBI report reveals that The net zero economy will grow by 10% in 2024, compared to modest 3% of British GDP. In addition, it already represents 1.1% of the country’s total GVA, surpassing traditional sectors such as agriculture and advertising.
Louise Hellem, CBI chief economist, noted that “There can be no growth without sustainability” and that 2025 will be a decisive year in which “inaction will be more costly than action”. The rapid expansion of clean industries demonstrates that economic growth and the fight against climate change Not only are they compatible, they go hand in hand.
The report contradicts arguments by politicians such as Nigel Farage and Conservative leader Kemi Badenoch, who have called the net zero agenda an economic burden. The figures suggest otherwise: the green sector is creating well-paid jobs, attracting investment and strengthening the UK’s energy security.
Employment, productivity and regional development
One of the most striking data in the report is the growth of employment in the net zero sector. With almost One million full-time workers, the average salary of £43,000 per year is higher than £5,600 the national average. Furthermore, The productivity of these jobs is 38% higher than the UK average.
Unlike other industries highly concentrated in London and the South East, The rise of the green economy is benefiting the entire country. Regions such as the West Midlands, Yorkshire and South West England have become growth poles, with an increase in 20% net zero jobs in Scotland by 2022.
Clean energy has also improved the UK’s competitiveness on the global stage. However, experts warn that The country still lags behind the EU, where the net zero economy contributes 50% more to GDP, and China, where it accounted for a record 10% in 2024.
Energy security and market volatility
The war in Ukraine and the global energy crisis have exposed the vulnerability of gas-dependent countries. Increasing clean energy production in the UK is key to reducing price volatility and strengthening national energy security.
Luke Murphy, chairman of the parliamentary group on climate change, warned of the risks of continuing to rely on fossil fuels: «We do not want Putin to continue to have control over our energy bills. Going for net zero is the only way to ensure economic and energy stability.»
The report supports the strategy of Energy Secretary Ed Miliband, who stressed that “The green transition is the greatest industrial opportunity of the 21st century” and a way to guarantee jobs and growth throughout the country.
The clash between politics and economic reality
Despite the positive data, the green transition remains a polarizing topic in British politics. While the 2019 government set a the net-zero emissions target for 2050 in legislation, current Conservative leaders have called the plan a “error” that affects economic growth.
Rachel Reeves, the Chancellor of the Exchequer, was criticised in January for suggesting that economic growth was more important than net zero. However, following the publication of the CBI report, she clarified her stance: «There is no conflict between growth and sustainability, but quite the opposite. Net zero is our best chance for a strong and secure economy.»
The report also debunks the rhetoric of the Reform UK party, which has promised “ending net stupid zero”, arguing that it is “destroying the economy.” The data shows otherwise: the net zero sector is not only thriving, it is leading the UK’s economic growth.
A path of no return towards decarbonisation
The findings of the CBI report are clear: The UK is already on the path to green transition and turning back would mean missing out on an unprecedented economic opportunity.
The investment in renewable energy, electric vehicles, green finance and energy storage It is not only key to reducing emissions, but also to create jobs, increase productivity and strengthen energy independence.
As British politics debates the future of the green transition, The net zero economy is advancing unstoppably, transforming the country’s productive fabric and paving the way towards a more sustainable and resilient economy.
