New £166.5m cash injection for green technology and to create 60,000 UK jobs
The government has announced a major cash injection for green technology and the development of its ‘Green Industrial Revolution’ to create more than 60,000 new jobs.
The green technology required to help the UK meet climate targets has been given a £166.5m cash injection, just six months on from the publication of the Prime Minister’s 10 Point Plan for a Green Industrial Revolution.
The multi-million pound investment, awarded to innovators, businesses, academics and industry right across the UK, will accelerate the delivery of the critical game-changing technologies needed to further drive Britain’s climate change ambitions, while creating new jobs across the UK.
The funding package announced today will develop technologies in carbon capture, greenhouse gas removal and hydrogen, while also helping find solutions to decarbonise the UK’s polluting sectors including manufacturing, steel, energy and waste.
This investment will help the UK meet its ambitious climate commitments, including reaching net zero emissions by 2050 and reducing UK emissions by 78% by 2035 compared to 1990 levels.
Energy Minister Anne-Marie Trevelyan said: “We are determined to tackle climate change and make it win-win for both our planet and our economy. Today’s major cash boost – targeted at our most polluting industries – will encourage the rapid development of the technologies we need to reign in our emissions and transition to a green economy, one that reduces costs for business, boosts investment and create jobs. Just six months ago, the Prime Minister set out a clear 10 Point Plan for creating and supporting up to 250,000 British jobs as we level up and build back greener from the pandemic. Today we’re boosting our armoury for the fight against climate change and backing innovators and businesses to create green jobs right across the United Kingdom.”