Do you know that the UK’s transition to a greener economy has brought significant benefits, including a net worth of £71 billion and job and investment opportunities in areas previously facing industrial decline, according to a report by the Confederation of British Industry (CBI)?

Scottish and English regions such as Tyneside, Teeside, Merseyside, and the Humber have particularly thrived in the green economy, outpacing London and the South East in growth. The CBI’s report also found that green jobs pay more, with an average salary of £42,600 compared to the national average of £33,400. However, the UK’s strong position in green technology is at risk as other countries, including the US, are offering more attractive destinations for green funding. The US’s recent Inflation Reduction Act, allocating $369 billion towards combating climate change, has disrupted the global green investment landscape and made the US a more appealing option. In response, the UK government has pledged to support up to 480,000 green jobs by 2030, driven by £100 billion in private sector investment and £30 billion in government funding.

Despite these efforts, some believe that the UK needs to move faster in planning and consenting for renewables and vehicle charging to maintain its position as a leading destination for green investment.