STUDY: Green Hydrogen Could Spur Economic and Job Growth Across Europe

Jan. 17, 2024
ManpowerGroup and Cepsa report that the adoption of green hydrogen and biofuels could create 1.7 new million jobs by 2040.

More than 1.7 million new jobs could be created across Europe by 2040 with the development of green molecules, such as green hydrogen and biofuels, as part of the energy transition, finds a study from ManpowerGroup and Cepsa.
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 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.
However, Italy, Spain and Germany face the widest skills gaps. To address this, the report provides several proposals, including rethinking the university system, supporting vocational training, nurturing non-formal training and talent hubs, and fostering public-private partnerships. 

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