The UK’s net zero economy - The scale and geography of the net zero economy in the UK

THE UK’S NET ZERO ECONOMY | FEBRUARY 2024 The UK’s net zero economy The scale and geography of the net zero economy in the UK February 2024 A report for: The Energy & Climate Intelligence Unit by CBI Economics 1 THE UK’S NET ZERO ECONOMY | FEBRUARY 2024 Contents Forewords 3 Executive summary 5 Introduction 10 Chapters: 1. [...] This collectively makes up more than a third of the UK net-zero economy and is largely driven by the high concentration of professional, scientific and technical services firms that are part of the net zero economy and operate out of London and the South East.16 However, despite the larger scale of activity in London, the net zero sector only makes up 2.8% of regional GVA and 2.5% of regional empl. [...] 28 THE UK’S NET ZERO ECONOMY | FEBRUARY 2024 3.1 The net zero economy provides important economic opportunities up and down the country, including in some of the UK’s most deprived areas The UK boasts enormous opportunities for clean energy generation and the manufacture of green technologies, with many parts of the country contributing to these strengths. [...] The total GVA contributions of the net zero economy are 12% larger than the GVA of Wales and the employment contributions are equal to 80% of the employment in the North East. [...] The direct, indirect and induced contribution are combined with the initial contribution derived to provide an estimate of the total economic contribution of the initial economic activity, both in terms of the GVA the activity generates, and the employment required.