Investors pledge almost £10bn at UK Global Investment Summit
At least 30,000 new jobs will be created around the UK thanks to £9.7 billion of new foreign investment due to be announced by the Prime Minister at the Global Investment Summit.
The package of 18 deals will support growth in vital sectors such as wind and hydrogen energy, sustainable homes and carbon capture and storage, cementing the UK’s climate leadership for COP26 and beyond.
It comes as the Department for International Trade launches a new Investment Atlas, an online platform designed to help international investors identify and execute high priority investment opportunities in England, Scotland, Wales and Northern Ireland.
The Atlas will highlight 53 strategic investment opportunities across the UK, each with a strong sustainability element aligned with the key themes set out in the Prime Minister’s 10-point plan. New projects being showcased include offshore wind substructures in Scotland and manufacturing ports in Teesside and Humber, sustainable food systems delivery in Telford and net zero transport in Coventry.
The Prime Minister opened the Summit in London alongside International Trade Secretary Anne-Marie Trevelyan. He will also take part in a panel discussion with Bill Gates on the global energy transition and role of the private sector in tackling climate change.
Prime Minister Boris Johnson said “The world’s top investors have seen the massive potential in the UK for growth and innovation in the industries of the future. The fantastic £9.7 billion of new investment we have secured today will power our economic recovery, creating thousands of jobs and helping to level up across the country.”
As part of the new investment committed, electric utility company Iberdrola have confirmed their intent to invest £6 billion in the East Anglia Hub through Scottish Power, subject to securing planning consent and a Contract for Difference. This will be Iberdrola’s biggest offshore wind development anywhere in the world and would supply enough green energy to power 2.7 million British homes, while creating 7,000 jobs.
The £9.7bn announced comes on top of the £5.8bn already committed for sustainable projects since the PM launched his Ten Point Plan in November 2020.
The Government will also launch the Net Zero strategy soon, setting out how the UK will deliver on its commitment to reach net zero emissions by 2050. It will include measures to create a secure, home-grown clean UK energy sector, supporting businesses and consumers to transition to clean power, create thousands of well-paid jobs and unlock investment.
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