More than £5.8 billion of foreign investment in green projects has been secured since the launch of the Prime Minister’s Ten Point Plan, along with at least 56,000 jobs in the UK’s clean industries, the government has advised.
Data was released as Cabinet met for a special regional session on the government’s green agenda ahead of the Global Investment Summit on October 19th 2021.
This major green investment boost, revealed in new data released by the Department for International Trade, helps to drive forward the Prime Minister’s ambitions to make the UK a global leader in green technology and finance. It includes more than £650 million in advancing offshore wind this year alone, supporting almost 3,600 jobs across the Humber and North-East and over £900 million in accelerating the shift to zero-emissions vehicles.
Progress since the Ten Point Plan was introduced:
- Securing around £1.5bn of investment into the UK offshore wind industry, supported by the government’s £160m scheme to upgrade ports and infrastructure. Renewables now represent almost 40% of the UK’s total electricity generation.
- Kicking off the biggest-ever round of the flagship renewable energy scheme for low carbon electricity (Contract for Difference) with £200 million for offshore wind projects and £24m for floating offshore wind.
- Publishing the Hydrogen Strategy to grow the UK hydrogen economy, consulting on design of the £240m Net Zero Hydrogen Fund, and announcing funding of seven real-world hydrogen transport pilots.
- Committing £20 million to increase on-street charge points for electric vehicles and providing £50m to support charge point installations.
- Publishing theTransport Decarbonisation Plan and National Bus Strategy, as well as supporting Coventry to become UK’s first all-electric bus city and consulting on world-leading pledge to end the sale of all new, polluting road vehicles by 2040 and net zero aviation emissions by 2050. This is in addition to more than 300 new walking and cycling schemes.
- Providing £1 billion to upgrade schools, hospitals, and council buildings with energy efficiency measures and committing £222 million to upgrade socially rented homes. Local Authorities through the Green Homes Grant scheme have also started installing upgrades to around 50,000 low-income households.
- Announcing £19.5 million of grant funding for UK projects developing novel carbon capture technology and we have kicked off the process to decide the first carbon capture cluster locations in our industrial heartlands.
- Launching the floods investment programme that is on track to better protect 336,000 properties.
- Awarding 90 projects under the second round of the Green Recovery Challenge Fund, totalling £80 million of investment, and launched several schemes under the Nature for Climate Fund to expand our pipeline of tree planting projects in England.
- Launching the £1 billion Net Zero Innovation Portfolio, providing funding for low-carbon technologies and systems across the areas of the 10 Point Plan.
- Publication of the recommendations of the Green Jobs Taskforce.
- Launching the North Sea Transition Deal and Industrial Decarbonisation Strategy
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.”
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