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Green hydrogen and biofuels will create 1.7 million jobs in Europe by 2040 – Executive Summary

Green hydrogen and biofuels will create 1.7 million jobs in Europe by 2040 – Executive Summary

New renewable fuels, such as green hydrogen or biofuels, could create 1.7 million new jobs in Europe and contribute to European GDP growth of €145 billion by 2040.

This is the conclusion of the study “Green Molecules: The Imminent Labor Market Revolution in Europe”, conducted by ManpowerGroup and Cepsa and presented today at the World Economic Forum meeting in Davos.

This report predicts that over the next two decades, Spain will lead in green hydrogen production and associated job growth, generating 116,000 jobs in this decade and 181,000 jobs in 2040, equivalent to 11% of the total jobs generated in the European Union and the Kingdom. united.

In terms of economic growth, the sector will contribute an additional €15,600 million by 2040, representing an increase of 1% of GDP in 2022.

Furthermore, the study also reveals that the gender gap that currently exists in the energy sector will be reduced, with female representation in the green molecules industry reaching 37%.

Martin Wetselaar, CEO of Cepsa, revealed that the partnership with ManpowerGroup is essential “to advance the incredible job creation opportunities of the energy transition, as it will allow us to direct strategic and data-driven knowledge into the objectives of skills improvement programs and manage and plan the necessary profiles and training initiatives.”

“This is a new era that represents a huge opportunity, not only for companies, but for millions of professionals,” says Jonas Preysing, CEO of ManpowerGroup. However, it can only be used if we prepare people for it. The future of work is green and we must work together to secure the future of the planet and people.

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The report also shows that 20 occupations are currently responsible for 8 out of every 10 new jobs created in the renewable fuels industry: primarily mid-level and higher-level technical positions.

It also reveals that by 2040, demand for mid- and senior-level scientists and engineers, electricians, administrative and commercial managers, mining and construction workers, IT professionals, and metal and machinery operators will increase.