CBI report

In January 2023, the Confederation of British Industry (CBI) released a report “Mapping the net zero economy", commissioned by the Energy & Climate Intelligence Unit. The points below are based on the assumption of reaching net zero by 2050:

• The transition to a greener economy is worth £71bn pa and has brought jobs and investment to parts of the UK experiencing industrial decline.

• The drive to reach net zero emissions involves more than 20,000 businesses.

• 840,000 jobs are linked to sectors ranging from renewable energy to waste management.

• Green jobs pay significantly more: the average wage (£42,600) is significantly above the national average (£33,400).

• If the UK doesn't build on the good work that has already been done, we will lose out and lose jobs.

• The UK has long been seen as a leader in green technology, in particular offshore wind, but this position is at risk.

Bringing forward the target to 2030 will create more job opportunities as the work would be achieved in a shorter timescale.

The government's commitment to Net Zero by 2030, almost within its lifespan, would give the investment market confidence that the policy would not be overturned by the subsequent government.