1.7 million green jobs in Europe by 2040, study projects
DAVOS, SWITZERLAND — A landmark study predicts that over 1.7 million new green jobs will emerge across Europe by 2040, catalyzed by the production of renewable fuels like green hydrogen and biofuels, but will require reskilling and upskilling 60% of professionals.
The report Green Molecules: The Upcoming Revolution in the European Employment Market was unveiled by workforce solutions provider ManpowerGroup and global energy company Cepsa at the World Economic Forum Annual Meeting in Davos.
It indicates Spain will lead in green hydrogen production and related job growth, generating an estimated 181,000 new roles.
The United Kingdom follows closely with 173,000 new jobs projected, then Germany at 145,000, and France at 105,000.
“The future of work is undoubtedly greener and more digital… Addressing climate change does not mean choosing between people and the planet. Preparing the workforce with in-demand skills is key to driving this transition,” said Jonas Prising, ManpowerGroup Chairman and CEO.
The report cautions that Italy, Spain, and Germany face the widest skills gaps in preparing professionals for green economy jobs. It proposes vocational training programs, workforce mapping tools, and public-private partnerships to address these gaps.
Another key finding is that while women’s participation in green roles is increasing, it remains below 40% in most countries except Spain and Italy, which expect women to hold over 50% of direct green jobs by 2040.
Additional green jobs could also drive gross domestic product (GDP) in the euro zone by 145 billion euros by 2040, or an average of 8.5 billion euros per year.
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