The British government announced on Thursday that it has already drawn billions of pounds in investment for its plan for a ‘green industrial revolution’, ahead of the investment summit in London that would bring together some of the world’s most influential financiers.
Since November 2020, when Prime Minister Boris Johnson launched a 10-point plan to prioritise green technology and climate goals in UK’s economic recovery from the COVID-19 pandemic, the government data showed that investment worth 5.85 billion pounds (8.01 billion US dollar) had been either committed or delivered.
By 2030, the plan aims to attract 42 billion pounds in private investment in energy, transportation, buildings, innovation, and the environment, as well as in 250,000 ‘green jobs.’
The government also hopes to attract financing to help it gain lead in the race of the developed world to capitalise on demand for better green technology and the high-skilled, high-paying jobs that it should bring.
With that in mind, Johnson will meet senior bankers at an investment summit in London next Tuesday, including Jamie Dimon, Chief Executive of JPMorgan Chase & Co. and Larry Fink, the Blackrock CEO.
Ministers, business leaders, and British royals are expected to attend the event, which aims to raise funds for projects that will help Britain fulfil its climate targets and revitalise the struggling post-industrial areas left behind by economic focus on the services sector.