After COP27’s Science Day and its Decarbonisation Day, the UK has announced that it will be investing £65 million into clean tech. This investment is to be put into place in order to help increase the development of green technology in the UK, therefore energy-intensive companies will most likely benefit from the funding.
The funding was announced at COP27 by the UK’s Business Secretary, Grant Shapps who stated that:
“Green means growth, and with our existing talents in clean technologies, UK businesses could be world leaders in an industry that will only expand, creating jobs for generations to come while also protecting our precious planet.”
This came after Shapps claimed that those attending the COP event were leading the international efforts to increase new sustainable innovation that is affordable and accessible to those that work in heavy energy-intensive industries in developing and poorer countries.
The UK is one of the leading countries around the world for green technology, as we are the world leader in the development of hydrogen and electric vehicle manufacturing. Due to this the UK are in a position to share their knowledge and expertise within the growing green technology sector.