Data released by the Department for International Trade shows that there has been more than £5.8Bn of foreign investment in green projects since the launch of the Prime Minister’s Ten Point Plan.
The figures also show that 56,000 high-quality green jobs have been secured and created across the UK since November 2020.
The release of the data came ahead of the COP26 conference being held in Glasgow, as the UK leads on tackling climate change.
What does this mean?
This major green investment boost comes as part of the Prime Minister’s Ten Point Plan and ambition to make the UK a global leader in green technology and finance. Investment includes more than £650M in advancing offshore wind this year alone, supporting almost 3,600 jobs across the Humber and North-East; and over £900M in accelerating the shift to zero-emissions vehicles.
The UK will also see AESC invest over £400M in battery manufacturing for example, as part of a £1Bn project with Nissan and Sunderland Council to create a flagship Electric Vehicle Hub.
Securing private investment for clean technology is a core part of the Government’s strategy to meet our world-leading emissions reductions targets over the next decade and achieve Net Zero by 2050.
The PM’s Ten Point Plan will mobilise £12Bn of Government investment over the next decade to create and support up to 250,000 highly skilled green jobs in the UK – and unlock three times as much private sector investment by 2030.
What are the UK Government saying?
Prime Minister Boris Johnson said: “These new figures are yet more evidence that going green means creating high-quality jobs across the United Kingdom.
“We are at the forefront of seizing these new opportunities, supported by major government investment and a British zeal for innovation and commerce.
“Since the launch of our Ten Point Plan, businesses across the country have attracted international investment in the industries of the future, ensuring we build back better and greener.”
International Trade Secretary Anne-Marie Trevelyan commented: “The UK is already one of the most attractive investment destinations in the world and the Global Investment Summit will build our reputation further as we bring the world’s top business names to our shores.
“Inward investment helps level up the UK by making companies more profitable, which means they can invest back into local economies and create stronger supply chains, meaning more sustainable communities for the future.”
Business and Energy Secretary Kwasi Kwarteng added: “The UK is fully capitalising on the global green industrial revolution, showing the world how business and industry can remain competitive and attract international investment in this race to secure new green industries.
“As we power on with our plan to back new British industries – from car battery makers to wind turbine designers – we are laying the foundations for a new era of green jobs and decades of economic growth to come.”
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