DAVOS, Switzerland - A significant surge in employment is on the horizon for Europe, with a new study indicating that green energy initiatives could generate over 1.7 million jobs by 2040. ManpowerGroup (NYSE: NYSE:MAN) and Cepsa presented these findings at the World Economic Forum's Annual Meeting, highlighting the potential of green molecules such as hydrogen and biofuels in fostering job growth amidst the energy transition.
The report titled "Green Molecules: The Upcoming Revolution in the European Employment Market" suggests that the shift towards greener energy will necessitate the reskilling of 60% of professionals to meet the demands of this burgeoning sector. Jonas Prising, Chairman and CEO of ManpowerGroup, emphasized the importance of equipping the workforce with in-demand skills to drive this transition, calling for collaboration between governments and employers.
Projected leaders in green hydrogen production include Spain, expected to create 181,000 new jobs, followed by the United Kingdom with 173,000, Germany with 145,000, and France with 105,000. The study also points to a skills gap in countries like Italy, Spain, and Germany, which could be bridged through vocational training and public-private partnerships.
The participation of women in the green economy is increasing but remains below 40% in most countries, with Spain and Italy expected to see women holding over 50% of direct green jobs by 2040.
Cepsa CEO Maarten Wetselaar underscored the company's commitment to leading the green energy transition and its collaboration with ManpowerGroup to foster sustainable and inclusive workforce development. The report outlines 10 proposals for equipping professionals for the green hydrogen economy, emphasizing the need for continuous upskilling, university system reform, and public-private partnerships to address the skills gap.
The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.