Green growth could create 35 million jobs by 2047

India’s accelerated bid to achieve its net-zero target by 2070 will create vast employment opportunities for its population, a new report has found. The country is expected to create 35 million green jobs by 2047, according to sustainable solutions company Sattva Consulting. Green jobs are those that contribute to environment restoration and preservation, in both traditional and emerging sectors, including renewable energy, waste management, electric vehicles, green construction and sustainable textiles.

The renewable energy sector will be a significant employer in the green economy, with solar energy alone projected to host 3.26 million jobs by 2050. This will be followed by wind energy, which could support 0.18 million jobs by 2030 while bioenergy and green hydrogen sectors could employ 0.27 million and 0.6 million workers by 2030, respectively.

The employment potential in India’s green economy is expected to be centered mainly around urban and peri-urban areas, which will house 60 per cent of the country’s population by 2050, the report highlighted. The rapid development of urban areas would mean a 4 per cent increase in waste annually, and its management could employ millions of people in the coming decade, especially in the “lucrative” E-waste and wastewater sectors.

Overall, the country has the potential to emerge as a global leader in green growth and unlock $1 trillion in value by 2030. This is after India saw a 125 per cent year-on-year jump to $14.5 billion in renewable energy investments in the last financial year. Additionally, green transitions are expected to get a boost from companies operating across traditional sectors after 138 firms set net-zero emission targets for 2050.

Out of this, India’s push for electric vehicles is expected to create 10 million direct and 50 million indirect jobs by 2030, providing opportunities for not just a new workforce but also those currently working on internal combustion engine (ICE) vehicles. Moreover, transitions to sustainable textiles and construction are expected to affect 45 million and 11 million jobs, respectively.

The report however stressed that considerable skill development will be required to jumpstart green growth, especially for those currently employed in traditional sectors. “The ecosystem that supports the development of the required skill sets is currently nascent and gaining momentum slowly,” the report said.

A number of barriers also exist in a smooth transition to green growth, including a lack of policies for green skill development, funding gaps, inadequate skill infrastructure, exclusion of vulnerable groups, and lack of collaboration among key actors.