In a new analysis published on Thursday 18 April, the International Energy Agency (IEA) reports that, in the European Union, clean energy accounted for almost a third of GDP growth in 2023, the highest share of all regions evaluated (the United States, the EU, China and India).
Although this share is inflated by low overall GDP growth of around 0.5% in the EU, the authors of the analysis point out that the EU’s climate objectives and policies, such as the ‘Fit for 55’ package and the proposed ‘Net Zero Industry Act’, support investment in clean energy. Moreover, this investment has more than doubled between 2022 and 2023, driven in particular by the manufacture of batteries.
Globally, clean energy will have added around $320 billion to the world economy by 2023, representing 10% of global GDP growth.
In addition, employment in the clean energy sector overtook that of fossil fuels in 2021 and continues to grow. In 2023, 36 million workers were employed in clean energy supply chains.
Finally, the authors of the analysis argue that as energy transitions advance, a new clean energy economy is emerging.
To see the analysis: https://aeur.eu/f/bva (Original version in French by Pauline Denys)