UK’s Green Industrial Revolution goes global. The Prime Minister launched a new initiative at the COP26 climate change summit.
Prime Minister Boris Johnson announced a major new funding package at the COP26 on Monday, November 1. The government aims to support the rollout of revolutionary green technology in developing countries. The technology will help tackle climate change. It is also expected to boost economic growth.
According to the government: “To support the Clean Green Initiative the UK will deliver over £3 billion in climate financing for green growth in developing countries over the next five years, including £200m for a new Climate Innovation Facility.
“This is double the amount the UK’s development finance institution, the CDC, invested in climate projects its previous strategy period from 2017-2021.”
Johnson commented: “I want to see the UK’s Green Industrial Revolution go global. The pace of change on clean technology and infrastructure is incredible, but no country should be left behind in the race to save our planet.
“The climate has often been a silent victim of economic growth and progress – but the opposite should now be true. Through the Clean Green Initiative, we can help to build back better and greener from the pandemic and put the world on the path to a more sustainable future.”
Liz Truss the Foreign Secretary commented on how the deal will impact climate change. She explained: “Developing countries need the right form of investment to help drive clean growth, whilst dealing with the impacts of climate change.
“The opportunities are clear and this new initiative will enable us to seize them, working closely with our allies to deliver honest and responsible investment and cleaner and more reliable infrastructure in the developing world.”
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