Net Zero Economy Worth £83bn and Nearly 1 Million Jobs to UK, New CBI Study Reveals

The numbers on Sarah Mitchell’s laptop screen told a remarkable story. As the CBI economist scrolled through the latest data on Britain’s net zero economy, one figure stood out: £83.1 billion in economic value generated in 2024 alone.

This wasn’t just another academic exercise. The Confederation of British Industry, commissioned by the Energy and Climate Intelligence Unit, had produced what they’re calling the most detailed independent assessment yet of how much the UK’s green transition is actually worth.

The Scale of Britain’s Green Revolution

The report, titled “The Future is Green”, reveals that 22,800 businesses across the UK are now classified as part of the net zero economy. These firms – from offshore wind developers to home insulation installers – generated £28.8 billion directly in 2024. But their impact ripples far wider.

For every pound created by these green businesses, another £1.89 flows through the wider economy via supply chains and knock-on effects. That multiplier effect pushes the total contribution to £83.1 billion – roughly 3.3% of Britain’s entire economic output.

The growth rate tells an even more striking story. Between 2023 and 2024, the net zero economy expanded by 10.1%, outpacing the broader UK economy’s performance.

Jobs That Pay More

Behind the headline figures lies a jobs market transformation. The net zero economy now supports 951,000 full-time equivalent positions – about 2.9% of all UK employment. Of these, 273,000 work directly for green businesses, while 679,000 more depend on the supply chains and economic activity they generate.

These aren’t just any jobs. Workers in the net zero economy earn an average of £43,076 annually – above the UK average. They’re also 38% more productive than the national norm, generating around £105,500 in economic value per position.

The investment figures highlight the sector’s momentum. Net zero-related commercial activity attracted £23 billion in combined investment and foreign direct investment in the most recent year assessed. Government data shows foreign investment alone reached £20.1 billion in 2023-24, up 46.5% from the previous year.

At the same time, the CBI’s Chief Economist described net zero as now a “cornerstone of sustainable growth in the UK”, arguing “you can’t have growth without green”.

Beyond London’s Reach

This isn’t just a London story. The analysis identifies particular strength in the West Midlands, Yorkshire and the Humber, and the South West. From small businesses fitting heat pumps to major manufacturers building clean technology equipment, the green economy spans regions and sectors.

The report positions the net zero economy as already larger than established sectors like advertising and market research, which generates about £28.5 billion in gross value added.

Yet questions remain about methodology and definitions. Official statistics for the broader “low-carbon and renewable energy economy” recorded 410,000 jobs and £42.6 billion turnover in 2019 – different figures reflecting different ways of measuring green economic activity.

Key Takeaways

• The UK’s net zero economy generated £83.1 billion in economic value during 2024, supporting nearly one million jobs
• Green businesses grew 10.1% between 2023-2024, outpacing overall UK economic growth
• Workers in net zero industries earn above-average wages and are 38% more productive than the national average

What This Means for Kent Residents

Kent sits at the heart of the South East’s green economy boom, with offshore wind farms in the Thames Estuary, major transport corridors, and Channel ports driving decarbonisation efforts. Local residents could benefit from higher-paying opportunities in renewable energy, home retrofitting, and clean transport – sectors the study shows offer wages above the national average. Businesses across the county, from small insulation firms to logistics companies serving green supply chains, may find new opportunities as this £83 billion economy continues its rapid expansion.