• Home
  • Sustainable Investment Week
    • ESG
    • Sustainable Investment
    • Sustainable Investing
  • Equities
    • UK
    • Global
    • Europe
    • US
    • Asia
    • Emerging markets
    • Specialist
  • Bonds
  • Multi-asset
  • Funds
    • Unit trusts/OEICs
    • Investment Trusts
    • VCTs/EIS
    • Platforms
    • ETFs
    • Pensions
  • Regulation
  • Diversity
  • People moves
  • Events
  • Financial library
  • Industry blogs
  • Digital Edition
  • Newsletters
  • Sign in
    • logged-in-corporate-menuYou are currently accessing Investment Week via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
     
      • Account details
      • Newsletters
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • Facebook
    • YouTube
    • Instagram
  • Register
  • Events
    • Upcoming events
      event logo
      Fund Selector Briefing: Scotland 2021

      Investment Week's Fund Selector Briefing: Scotland 2021 is taking place live online on 25th February from 09:00 - 12:35. Aimed at senior investment professionals involved in the fund selection process, this event will provide the opportunity to hear from, and question, fund managers and networking with your peers.

      • Date: 25 Feb 2021
      • ONLINE, ONLINE
      event logo
      European equities: How to stay in sync with the cycle and prepare for recovery

      Our expert panellists on Investment Week’s latest webinar will discuss how investors in Europe should best position themselves for the new economic cycle, which is likely to have very different characteristics from the last.

      • Date: 04 Mar 2021
      • ONLINE, ONLINE
      event logo
      Fund Selector Briefing: Channel Islands 2021

      This interactive briefing will bring together senior investment professionals involved in the fund selection process from across the Channel Islands to hear from and question leading fund managers covering a range of asset classes.

      • Date: 04 Mar 2021
      • ONLINE, ONLINE
      event logo
      Funds to Watch Conference - March

      The Funds to Watch series from Investment Week allows sponsors to show-case up and coming or evolving funds and managers to some of the most influential fund selectors in the UK.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
      Follow our events

      Sign up to receive email alerts about our events

      Sign up

  • White papers
    • Fidelity logo whitebackground1200 630px 1 120x194
      The ETF Evolution

      In this exclusive magazine exploring the evolution of quality and income ETF strategies, King reveals that each ETF follows an investment strategy developed by the group's in-house research team that leverages fundamental active insights to inform the factor definitions and applies portfolio construction principles to mitigate the unintended biases.

      Download
      7ded04ac5957a69da8d1df41c8f21a0c33988d8f 1 120x194
      A bet on the UK bounce back

      David Cumming, Aviva Investors' chief investment officer for equities, last year witnessed turbulent times for UK equities but he remains positive about the market in which he has a personal as well as a professional stake.

      Download
      Find white papers
      Search by title or subject area
      View all white papers
  • Industry blogs
  • Digital Edition
Investment Week
Investment Week
Sponsored by BMO
  • Home
  • Sustainable Investment Week
  • Equities
  • Bonds
  • Multi-asset
  • Funds
  • Regulation
  • Diversity
  • People moves
  • logged-in-corporate-menuYou are currently accessing Investment Week via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
 
    • Account details
    • Newsletters
    • Contact support
    • Sign out
 
  • Trending
  • IW 22 Feb issue
  • Past IW issues
  • Property funds
  • Consistent 50
  • Diversity disclosure
  • AGM season
  • ESG

Government promises to unleash net zero investment blitz with 10 Point Plan for a Green Industrial Revolution

New stimulus plan to jumpstart green recovery

PM Boris Johnson. Photo: Andrew Parsons/No 10 Downing Street/Flickr CC BY-NC-ND 2.0
PM Boris Johnson. Photo: Andrew Parsons/No 10 Downing Street/Flickr CC BY-NC-ND 2.0
  • Lauren Mason
  • Lauren Mason
  • 18 November 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Share on Whatsapp
  • Send to  
0 Comments

Carbon capture, hydrogen, nuclear, electric vehicles (EVs) and renewables all set to benefit from £12bn government stimulus plan, but critics warn funding falls well short of the level required to trigger a green recovery.

Prime Minister Boris Johnson has unveiled his much-vaunted ten-point green recovery plan, promising a multi-billion pound package of investment across the green economy designed to create an estimated 250,000 new jobs in the carbon capture, electric vehicle, nuclear, hydrogen and renewables sectors.

Announced late on Tuesday, the new '10 Point Plan for a Green Industrial Revolution' is underpinned by £12bn in new and previously announced investments in the green economy, which Number 10 predicted would mobilise three times as much private sector investment in support of the UK's 2050 net zero goal, potentially taking the total investment unleashed by the new strategy to nearly £50bn.

Related articles

  • Wellington hires two senior investors focused sustainable investing
  • UK unemployment rate jumps to 5.1% amid Covid crisis
  • A taxing question: Does carbon pricing hold the key to making the world carbon neutral before 2050?
  • Consistent 50: Meridian European Smaller Co's leads as top funds hold firm
  • Registrations open for Sustainable Investment Festival - book your place now

Join IW's sister publication BusinessGreen at the Technology and Investment Forum

However, the BBC reported that only around £4bn of the promised funding has not been announced previously, sparking unfavourable comparisons with Germany's recently announced €40bn green recovery package and accusations from political opponents that the new strategy will not put the UK on track to meet its medium and long term emissions goals.

But the Prime Minister this evening insisted that the plan would be at the heart of his ambitious economic recovery plans for the country.

"Although this year has taken a very different path to the one we expected, I haven't lost sight of our ambitious plans to level up across the country," Johnson said.

"My 10 Point Plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards net zero by 2050. 

"Our green industrial revolution will be powered by the wind turbines of Scotland and the North East, propelled by the electric vehicles made in the Midlands and advanced by the latest technologies developed in Wales, so we can look ahead to a more prosperous, greener future."

The plan includes £500m of new funding for green hydrogen projects, £535m for large and modular nuclear power developments, an additional £200m to support the development of four carbon capture and storage clusters over the next decade, £500m to help boost EV battery production, £20m for the development of green shipping technologies, and a further £1bn to extend the existing Green Homes Grant and Public Sector Decarbonisation schemes for a further year.

It's easier being green: Why investors are flocking to sustainable products

In addition, the government confirmed a series of policy moves that are expected to catalyse massive private sector investment in the net zero transition.

For example, the plan confirms the government is to bring forward the ban on fossil fuel car sales by five years to 2030, giving car manufacturers a decade to switch entirely to manufacturing EVs and plug-in hybrids, backed by £1.3bn to support the rollout of EV charge points in England, and £582m in EV grants.

Plug-in hybrid vehicles that can travel a "significant distance" without emitting CO2 would receive a five year repreive, but would still have to be removed from sale from 2035, the government said.

12345
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Share on Whatsapp
  • Send to  
  • Topics
  • ESG
  • Boris Johnson
  • UK
  • Green Homes Grant
  • Rishi Sunak
  • Green Industrial Revolution
  • Climate Change Committee
  • CISL
  • Corporate Leaders Group
  • Climate Change
  • climate change policy
  • Sustainable Future
  • Sustainability
  • Sustainable investment
  • sustainable investing
  • ethical investment
  • ethical investing
  • Responsible Investment
  • responsible investing
  • responsible capitalism
  • thematic investing
  • thematic investment
  • Disruptive technologies
  • digital disruption
  • Electric Vehicles
  • battery technology
  • Renewable energy
  • green tech
  • clean tech

More on ESG

Andrew Milligan
A taxing question: Does carbon pricing hold the key to making the world carbon neutral before 2050?
The first ever festival takes place between 22 and 25 June
Registrations open for Sustainable Investment Festival - book your place now
Faith Ward of Brunel Pension Partnership
Is it too much to hope for a climate revolution in finance this year? It needn't be
Parker Review target is for companies to have at least one director from an ethnic minority background by 2021
IA to issue 'amber top' to FTSE 350 companies not disclosing ethnic diversity of boards
Leon Kamhi of Federated Hermes
Sustainable Investment: Federated Hermes' Kamhi on sustainable wealth creation and where the industry needs to move quicker

Most read

'No chance': Answers needed as industry reacts to Woodford's slated return to fund management
'No chance': Answers needed as industry reacts to Woodford's slated return to fund management
Spot the Dog: Merian acquisition hurts Jupiter but Invesco remains worst culprit
Spot the Dog: Merian acquisition hurts Jupiter but Invesco remains worst culprit
Aberdeen Standard Investments introduces Reddit clause to silver risk factors
Aberdeen Standard Investments introduces Reddit clause to silver risk factors
Jersey regulator says new Woodford firm has not applied for authorisation
Jersey regulator says new Woodford firm has not applied for authorisation
Dimensional cuts fees across 93% of its UK and Ireland-domiciled AUM
Dimensional cuts fees across 93% of its UK and Ireland-domiciled AUM
blog comments powered by Disqus
Back to Top
Trustpilot

 

  • Contact us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • Facebook
  • YouTube
  • Instagram

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading