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EU Environmental Economy Employment Growth Surges To 5.8 Million FTEs In 2023

Eurostat data show employment in the European Union’s environmental economy reached 5.8 million full-time equivalents in 2023, up from 3.6 million in 2014. The increase reflects continued growth in sectors linked to environmental protection, resource management, and renewable energy.

Steady Expansion In Green Employment

Employment increased by 2.2 million between 2014 and 2023, with an average annual growth rate of 5.5%. In 2023, employment rose by 4.2% from 5.6 million recorded in 2022, indicating continued expansion across the sector.

Rising Output And Economic Impact

Output in the EU environmental economy reached €1.33 billion in 2023, up 4.3% from 2022 and nearly double the €0.68 billion recorded in 2014. The sector recorded an average annual growth rate of 7.9%, supported by investment in areas such as waste management, renewable energy, and energy efficiency in construction.

Driving Sustainable Solutions

Growth in the environmental economy is driven by activities focused on environmental protection and resource management. These include waste and wastewater management, forest management, and renewable energy production. The sector continues to expand across both environmental and economic dimensions, supporting job creation while contributing to EU sustainability targets.

Investment in these areas is increasing as governments and businesses focus on long-term environmental objectives. The data indicate that environmental services and green technologies are becoming a larger component of economic activity. For policymakers and investors, the expansion of the sector highlights the role of sustainability-related investment in supporting employment and economic growth.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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