As demand rises for green products and services, the UK is well-positioned to benefit from this trend, with a wealth of academic and research resources that enable it to be at the forefront of technological discovery. A healthy business base also exists in the UK to convert these discoveries into opportunities and jobs, provided businesses can access the talent and skills they need to thrive.
The science and technology sector already makes a huge contribution to the UK’s economy, providing nearly one-in-ten jobs. That role can only grow in importance as a result of net zero. Indeed, the sector is expected to generate 65% of all new net zero-related jobs by 2050. The remaining 35% will be in sectors such as construction and building services.
This shows another reason why green technology is important – it not only helps achieve net zero, but it creates opportunities for businesses and the people they employ.
Here we explore the economic benefits of going green for the UK economy, as detailed in the Bruntwood SciTech report.
The share of jobs and wealth generation accounted for by businesses in the UK’s science and technology economy can be expected to grow significantly over the next 5 years and beyond
The recent success of northern English cities – like Leeds, Liverpool and Manchester – in growing their tech and life sciences sectors …. provides a further platform to rebalance the sectors’ national footprint over the coming years
The UK’s science and technology industries are a vital part of the UK economy: the sector generated gross value added worth an estimated £225 billion in 2020
The business opportunities linked to net zero transition can be expected to yield significant financial benefits in turns of additional business turnover for employers in the science and technology sector