New data released by the UK’s Department for International Trade revealed that more than the country has attracted £5.8 billion ($8 billion) of foreign capital for investment green projects since the launch of the country’s green industrial transition strategy late last year.
Some of the key areas for investment included more than £650 million directed to offshore wind projects this year, and over £900 million supporting the shift to zero-emissions vehicles.
UK 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.”
Johnson unveiled the country’s “Green Industrial Revolution” Ten Point Plan in November 2020, targeting investments in renewable energy, clean mobility, and green building initiatives. Along with that plan, the government committed to end the sale of new petrol and diesel cars and vans by 2030, ten years earlier than previously planned. The plan includes the mobilization of £12 billion of government investment and aims to unlock three times as much private sector investment by 2030.
The government outlined the progress made since the launch of the plan, including securing around £1.5 billion of investment into the offshore wind industry, publishing the Hydrogen Strategy to drive the development of the UK’s hydrogen economy, committing to increase on-street charge points for EVs, and providing £1 billion to upgrade schools, hospitals, and council buildings with energy efficiency measures.
Business and Energy Secretary Kwasi 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.”