Skip to main content
HOMEPAGE ADVERTS
HOMEPAGE ADVERTS
News
27 Feb 20241 minute read

Data shows £74bn growth in green economy

ECAtoday
Data shows £74bn growth in green economy

New research by the CBI shows the UK green economy far outperformed other sectors in 2023, growing by 9 percent to around £74bn. In contrast, the wider UK economy slipped into recession following low investment and productivity.

ECA provided key inputs to the report, highlighting the success of electrotechnical contractors upskilling their employees and installing more solar PV, EV chargers and battery storage. 

The CBI argues that green industries are now critical to the UK's economic prospects. The report calculated that net zero businesses attracted nearly £21bn in investment funding between 2018 and 2022 from both public and private sources. 

Louise Hellem, CBI's chief economist, said in BusinessGreen that the UK's net zero transition promised to bring "immense opportunities for our economy", boosting jobs, industry and energy security while helping to reduce the country's emissions.

However, Hellem stressed there was still "much work to be done to fulfil the UK's potential, and accelerate our journey to net zero."

ECA works closely with its Members, industry partners and Government to help Britain transition to Net Zero Carbon. We produce regular guidance notes, technical bulletins, and industry updates to keep Members at the forefront of the Net Zero transition. Learn more here.

ECAtoday

ECAtoday

Are you up to date with ECAtoday?

ECAtoday is the official online magazine of ECA and reaches thousands of people within the electrotechnical and engineering services industry.