In a groundbreaking study presented at the World Economic Forum meeting in Davos, ManpowerGroup and Cepsa unveil the transformative potential of green molecules, forecasting the creation of 1.7 million new jobs and a surge of 145 billion euros in European GDP by 2040.
This paradigm shift, fueled by renewable fuels like green hydrogen and biofuels, promises to reshape employment dynamics, promote gender inclusivity, and address the pressing challenges of climate change.
The study identifies Spain as a pivotal player in this green revolution, projecting employment growth linked to the production of green hydrogen. Spain is poised to generate over 116,000 jobs in the next decade and a staggering 181,000 jobs by 2040, contributing 15.6 billion euros to the GDP. This represents a significant stride, constituting 11% of the total employment generated across the EU and the United Kingdom.
Spain emerges as a leader in fostering gender inclusivity in the energy transition, with the study indicating a remarkable reduction in the gender gap. The green molecules industry is expected to witness 37% representation of women, showcasing a substantial increase. The forecasted rate of women’s incorporation surpasses that of men between 2030 and 2040, potentially empowering women to hold 51% of new direct jobs in renewable fuels by the 2040s.
Cepsa, at the forefront of this transformative journey, is dedicated to producing green molecules like green hydrogen and biofuels. Maarten Wetselaar, CEO of Cepsa, emphasizes the importance of alliances and inclusivity in this transition. The collaboration with ManpowerGroup signifies a strategic alliance to leverage data-based knowledge for upskilling, management, and planning programs, ensuring the workforce is equipped with the required skills.
The study underlines the demand for technical professionals, identifying 20 key occupations that will account for 80% of new jobs in the renewable fuels industry. Mid- and high-level scientists, engineers, electricians, directors in administration and sales, mining and construction workers, IT professionals, and metallurgy and machinery operators will be in high demand. With 88% of new jobs emerging outside the energy sector, upskilling and reskilling initiatives become imperative to address the skills gap.
Green molecules are positioned as a driving force throughout the productive value chain, with 88% of new jobs extending beyond the energy sector into services, industry, and construction. The transition necessitates upskilling and reskilling for 60% of professionals in Europe, emphasizing the critical importance of vocational training, workforce mapping tools, and public-private collaboration.
Cepsa’s ambitious projects, including the Andalusian Green Hydrogen Valley and 2G biofuels ventures, are set to create up to 14,000 direct, indirect, and induced jobs. With plans for 1GW green hydrogen plants, green ammonia, green methanol, and a biofuels plant, Cepsa is leading the charge in the development of the largest green molecule hubs in Europe, setting a remarkable precedent for sustainable growth.
