The transition to net zero presents significant economic opportunities UK-wide and has the potential to deliver sustainable, long-term growth.
To understand these long-term opportunities, we must take stock of how investments to-date have already supported the economy. The latest CBI Economics report, commissioned by the Energy and Climate Intelligence Unit (ECIU), assesses the contributions the net zero economy is already making.
The UK’s net zero economy is a bright spot for the UK economy
Using insights from The Data City, we determined that the number of businesses within the net zero economy grew 20% in the last year, with much of this growth derived from businesses who are bringing new technologies and solutions to the market and are predominantly SMEs. And they’re part of a larger ecosystem of net zero businesses which, together, generated £25 billion in Gross Value Added (GVA) and supported 218,500 full time jobs in 2022 – almost equivalent to the size of Sheffield’s workforce.
But they also rely on an extensive supply chain, so their economic contributions are far-reaching. W
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