The UK Net Zero economy is worth £83.1bn and 16% larger than the regional economy of the north-east, according to a new Confederation of British Industry (CBI) Energy & Climate Intelligence Unit report.
The growing sector accounts for 951,000 full time jobs across 22,800 businesses, representing 2.9% of total UK employment. For every job supported by Net Zero businesses, a further 2.5 are supported in the wider economy, the report notes.
The three largest sectors are renewable energy planning database, renewables and waste management and recycling followed by low carbon energy generation, diversion of biodegradable waste from landfill and low carbon consultancy, advisory and offsetting services. Carbon capture is the smallest segment, with 279 companies.
West Midlands, Yorkshire & Humberside and south-west region are the largest contributors to the Net Zero economy while Tyne & Teesside is identified as a ‘hotspot’ with its industrial production, shipping links and major projects underway.
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