UK secures £5.8bn of foreign investment for green projects
As COP26 fast approaches, around 5.8bn of foreign investment has been injected into the UK’s green projects since November last year.
It comes alongside some 56,000 new jobs in the UK’s clean and renewables industries, the government said today.
The fresh figures follow prime minister Boris Johnson’s ten point plan for a ‘green industrial revolution’ which he outlined late last year.
“The UK is already one of the most attractive investment destinations in the world,” newly appointed international trade secretary Anne-Marie Trevelyan said in a statement.
“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.”
Around £400m of the funds will be invested in a battery manufacturing project with Nissan and Sunderland Council.
While another £400m has been injected into offshore wind by Italian oil giant ENI Spa.
Business and energy secretary Kwai Kwarteng said: “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.”