DAVOS, Switzerland, Jan. 17, 2024 /PRNewswire/ — Over 1.7 million new green jobs could be created across Europe by 2040 thanks to the development of green molecules, such as hydrogen and biofuels, as part of the energy transition, finds a landmark new study unveiled today by ManpowerGroup at the World Economic Forum’s Annual Meeting in Davos, Switzerland.
However, the report, “Green Molecules: The Upcoming Revolution in the European Employment Market,” reveals the transition will require reskilling and upskilling 60% of professionals to equip them with crucial skills needed to meet the growing green demand.
“The future of work is undoubtedly greener and more digital. This report provides practical steps to drive sustainability agendas while empowering millions of people with meaningful and sustainable jobs,” said Jonas Prising, ManpowerGroup Chairman and CEO. “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. Governments and employers must come together to match bold commitments to reducing reliance on fossil fuels with strong actions to prepare for a greener future.”
The report forecasts that over the next 16 years, the countries that will lead in green hydrogen production and related employment growth will be Spain with 181,000 new jobs, followed by the United Kingdom with 173,000, Germany with 145,000, and France with 105,000.
Countries like Italy, Spain, and Germany face the widest skills gaps that must be addressed through vocational training, workforce mapping tools, and public-private partnerships. Additionally, women’s participation in green economy jobs is increasing but remains below 40% in most countries. Spain and Italy are the exceptions, with women projected to hold over 50% of direct green jobs by 2040.
