More than a million jobs, higher wages, nearly half a trillion pounds in investment in the pipeline \u2013 the UK\u2019s green economy is powering ahead, according to research by the country\u2019s leading business organisation.<\/p>\n
The net zero economy, which is worth more than \u00a3100bn a year, benefits all of the UK, according to the CBI Economics analysis<\/a> commissioned by the Energy and Climate Intelligence Unit thinktank, despite critics who want to abolish the UK\u2019s net zero targets<\/a>.<\/p>\n Net zero workers also enjoy higher wages, topping \u00a343,000 a year on average, about 11% higher than the national average of \u00a339,000.<\/p>\n Viking windfarm in Shetland. Photograph: Dave Donaldson\/Alamy<\/p>\n Louise Hellem, chief economist for the CBI, said: \u201cClean power and decarbonisation are already a significant and growing part of the UK\u2019s industrial base. Across energy, manufacturing, services and supply chains, the UK has the expertise to build on this strength and capture even greater commercial opportunities.\u201d<\/p>\n About 308,000 people are employed directly in businesses such as solar panel installation, home insulation, wind turbine manufacturing and electric vehicles. When their supply chains and related businesses are taken into account, this reaches 1.1m jobs, and accounts for \u00a3105bn in \u201cgross value added\u201d, a measure of economic activity similar to GDP. That equates to nearly 4% of the UK\u2019s economic output.<\/p>\n An estimated \u00a3455bn of potential investment in energy infrastructure is also in the pipeline, the report found. These developments have been spurred by the government\u2019s target of decarbonising the UK\u2019s electricity by 2030<\/a>, and stringent goals<\/a> on reducing greenhouse gas emissions in the near term, to reach net zero by 2050.<\/p>\n Each worker in the net zero economy generates nearly \u00a3120,000 a year for the wider economy, the research found. This is about one-and-a-half times the national average for adding value, at a time when the UK is struggling with low productivity<\/a>.<\/p>\n About 22,000 small businesses around the UK are engaged in activities based on the push to cut greenhouse gas emissions and boost renewable energy, according to the report.<\/p>\n Yet the main rightwing parties, the Conservatives and Reform UK, want to scrap the net zero targets<\/a> and row back on support for renewable energy<\/a>. Tony Blair, the former Labour prime minister, has also called for an end to net zero<\/a> and a push for fossil fuels instead.<\/p>\n Hellem made clear that turning away from net zero would be economically harmful. \u201cAt a time when the UK must strengthen energy security and drive growth, the net zero economy is becoming central to the country\u2019s future competitiveness,\u201d she said. \u201cThe UK cannot afford to step back from an industry already contributing \u00a3100bn to the economy and with huge future growth potential.\u201d<\/p>\n Sandra Bell, climate campaigner at Friends of the Earth, said: \u201cThe naysayers calling to dismantle climate action clearly don\u2019t want what\u2019s best for Britain or the millions of people struggling with the cost of living, otherwise they\u2019d be pushing to reap these huge rewards. Instead, they\u2019d prefer to keep us on the back foot in the global race to building a thriving green economy and locked into dying industries.\u201d<\/p>\n