Net-zero economy growing says CBI
Britain’s net-zero sector is experiencing triple the growth of the overall economy, new analysis has found. It has provided high-wage jobs all over the UK, as well as reducing emissions and increasing the nation’s energy security.
The sector saw a 10% growth in 2024, generating £83 billion in gross value added (GVA), which measures how much value companies add through their goods and services. The analysis came from the Confederation of British Industry (CBI) which found that 22,000 net-zero businesses, including renewable energy and green finance, employ nearly a million people full-time with average wages of £43,000. That’s £5,600 above the national average wage.
Economic growth and climate action go together, the analysis showed, according to the report’s authors. They also improve lives and livelihoods, they added. “There is no tradeoff between economic growth and net zero,” chancellor, Rachel Reeves said. “Quite the opposite. Net zero is the industrial opportunity of the 21st century.”
This contradicts the claim that it “is crippling our economy” according to Reform UK. The Tories, which ut the 2050 net-zero target into law in 2019 has now said that it “leaves us economically worse off,” and party leader Kemi Badenoch branded it a “mistake.”
“It is clear, you can’t have growth without green,” CBI’s chief economist, Louise Hellem said, “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.”
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