Business News Round Up (24/02/2025)
UK net zero growth outstrips overall economy
The net zero sector is growing three times faster than the overall UK economy, according to analysis commissioned by the Energy and Climate Intelligence Unit. The net zero economy grew by 10% in 2024 and generated £83bn in gross value added (GVA), with £28.8bn directly from net zero businesses and £54.3bn from supply chain activities and broader economic contributions. CBI Economics was commissioned by the Energy and Climate Intelligence Unit (ECIU) to measure the contributions of the UK’s net zero economy and assess the opportunities the sector brings across regions and local communities. As of December 2024, the UK had 22,800 net zero businesses. Of all 22,800 net zero businesses, 3,850 had seen growth of over 10% in the past year. The Renewable Energy Planning Database (REPD), followed by renewables are the two largest components of the net zero economy, with 10,625 and 7138 businesses respectively active in this sector.
https://renews.biz/98961/uk-net-zero-growth-outstrips-overall-economy
Industrial investment doubles since pandemic
The industrial sector’s share of investment in Scottish commercial property has nearly doubled since the beginning of the Covid-19 pandemic. Since 2020, industrial property accounted for 21% of investment volumes into commercial property in Scotland, compared to 11% in the previous five years. Analysis of Real Capital Analytics data by Knight Frank found that retail and seniors housing and care also saw increases – up from 27% to 31% and 1% to 4%, respectively. While the hotel and office sectors saw considerable falls, as lockdowns disrupted tourism and working from home became more popular, 2024’s figures suggested both are on the path to recovery. Investment in hotels more than doubled to £510m and offices saw a 40% rise to £517m, compared to the previous 12 months. Average annual investment volumes fell to £1.9bn following the pandemic, from £2.6bn. However, when much-disrupted 2020 is excluded, the four-year post-pandemic average rises to £2.2bn.
Glasgow City Region chosen for UK National Wealth Fund
Glasgow City Region has been chosen as one of four areas across the UK to take part in a new UK Government initiative which connects regions with central government and industry expertise to support them to unlock private investment opportunities and boost local growth.Chancellor Rachel Reeves announced the new approach across the National Wealth Fund and the Office for Investment, which will work with local leaders across the UK to support places to build pipelines of incoming investment and projects linked to regional growth priorities.The National Wealth Fund will trial strategic partnerships in Glasgow City Region as well as in Greater Manchester, West Yorkshire and the West Midlands. The partnerships will ‘provide hands-on support with tailored commercial and financial advice to help regions develop and secure long-term investment opportunities.’
https://www.digit.fyi/glasgow-investment-initiative-national-wealth-fund
Manchester Digital Campus given go-ahead to create 7,000 jobs
A major government office complex that is set to be built in Ancoats and bring 7,000 civil service jobs to Manchester has been given planning consent. A new urban park for the area has also been given the green light. The campus will be constructed on the former Central Retail Park in Ancoats after the city’s planning committee approved the Government Property Agency’s (GPA) scheme at Manchester City Council planning committee on February 20th. The government says it will bring together a number of Civil Service departments with a focus around digital skills, creating significant employment opportunities and economic benefits in the region. The campus is set to boost Manchester’s digital and tech sector, driving economic growth and new employment opportunities for the city. The new urban park will be constructed with the aim to improve access to quality green space in Manchester city centre.
https://businesscloud.co.uk/news/manchester-digital-campus-given-go-ahead-to-create-7000-jobs