Green business growth

The United Kingdom’s net zero economy grew by 9% in 2023, a report has revealed, in stark contrast to the 0.1% growth seen in the economy overall. Nevertheless, the report pointed out that strong future growth from green businesses was being put at risk by government policy reversals, lack of investment and competition from the European Union and United States.

Thousands of new green companies were founded in 2023 and overall the sector was responsible for the production of £74billion/NZ$153b in goods and services and 765,000 jobs, according to the report by the Energy and Climate Intelligence Unit and the Confederation of British Industry.

Hotspots of net zero businesses and the well-paid jobs they provide occur across the country, rather than being concentrated in London and the southeast, the report found.