Skip to content
Government announces green investment ‘boom’ – but climate activists say much more could be done |  UK News

[ad_1]

The government says it has launched a green investment “boom”, but campaigners say much more could be done to meet its climate goals.

New data from the Department for International Trade (DIT) shows more than £ 5.8bn of foreign investment in green projects has since been secured Boris Johnson announced the “ten point plan for a green industrial revolution” in November last year.

Picture:
Green Alliance said the government could do much more, including not expanding airports

He also found that at least 56,000 jobs have been secured or are ‘underway’ in UK clean industries over the next decade.

The plan is to invest £ 12bn in public investment in areas such as offshore wind, low-carbon hydrogen, nuclear power, green finance and the shift to zero-emission vehicles .

Follow the Daily podcast on Apple podcasts, Google Podcasts, Spotify, Streamer

According to the government, the potential is three times that of the private sector.

And the ambition is to create and support up to 250,000 green jobs by 2030.

The DIT said more than £ 650million had been invested in offshore wind power on the rise this year, including over £ 400million from ENI Spa, supporting nearly 3,600 jobs in the Humber and the North East.

And more than £ 900million is being injected to accelerate the shift to zero-emission vehicles.

Envision AESC is set to invest more than £ 400million in battery manufacturing while Nissan, in a £ 1bn project with the Sunderland Council, will create a flagship hub for batteries. electric vehicles.

The government has called this a green investment “boom”, but the independent think tank Green Alliance, which works with influential NGOs, business and political leaders, said much more funding could be needed. achieved – and actions taken – to achieve net zero emissions by 2050.

Sam Alvis, head of green renewal at Green Alliance, said: “Climate leadership will boost job creation and investment in the UK, but these numbers are only a fraction of what Chancellor Rishi Sunak could guarantee during the next expenditure review.

“Ambitious public investments will drive much more private finance to our net zero economy.

“In addition to encouraging investments in environmentally friendly projects on the one hand, the government must also stop public and private funding for environmentally harmful projects on the other hand, whether it is new oil fields, coal mines or airport expansions. “

Government announces green investment ‘boom’ – but climate activists say much more could be done |  UK News
Picture:
Nissan builds electric vehicle hub

Next week, the government hopes a global investment summit in London will attract 200 industry figures from around the world to invest in green business and innovation in the UK.

The Prime Minister said: “These new figures are further proof that going green means creating high quality jobs across the UK.

“We are at the forefront of seizing these new opportunities, supported by significant government investment and a British zeal for innovation and commerce.

“Since launching our Ten Point Plan, businesses across the country have attracted international investment in industries of the future, ensuring that we are building back better and more environmentally.

[ad_2]