Trade Secretary Kemi Badenoch MP will confirm today that the UK’s progress toward clean and sustainable energy has brought in almost £20billion in new investment.

Speaking to an audience of global investors and execs at the Green Trade and Investment Expo in Gateshead, she will set out a three-pronged approach to using trade to ensure the UK is ready to tackle crucial global challenges ahead.

The speech will celebrate figures which show the push for clean and sustainable energy is delivering huge economic benefits for the UK.

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In the past two years, the Government has secured £19.8 billion in new investment, creating over 11,000 new jobs. Total foreign investment has created nearly 85,000 new jobs for people across the UK in 2021-2022 alone. An unprecedented £100 billion of private sector investment is expected to support nearly 500,000 new jobs by 2030.

Ahead of the speech, Kemi Badenoch said: “We know trade and investment grows our economy, creates jobs, and puts money in people’s pockets – but it also has the power to tackle the challenges we see around the world.

“Now is the time to future-proof our economy by investing in cutting-edge green technology, protecting our long-term energy security and creating thousands of jobs in industries of the future.

“In just two years we’ve helped to secure £20 billion in green investment from everywhere from Spain to South Korea, creating over 11,000 jobs. I am committed to continuing to bang the trading drum for Britain to boost economic growth and level up the UK for generations to come.”

Hosted by the Department for International Trade (DIT) and the Department for Business, Energy and Industrial Strategy (BEIS), the Expo brings together UK businesses and global investors to capitalise on the commercial opportunities stemming from the UK’s journey to net zero.

Minister of State for Climate Change, Graham Stuart said: “The UK is number one in Europe for renewable investment opportunities, with the highest offshore wind capacity, one of the largest potential CO2 storage bases, and a fast-emerging centre of excellence for hydrogen propulsion and EV batteries.

“The deals struck here in Gateshead will not just bolster our country’s green transition and energy security, but will grow the UK’s economy - supporting livelihoods and helping in our fight against climate change.”

GTIE falls on day two of International Trade Week, a week-long series of business and sector-led activities, events and workshops available to businesses of all sizes and sectors across the UK, completely free of charge.

The week is aimed at businesses looking to maximise their global potential, giving them the advice and confidence they need to take the next steps to grow their business and access new international markets.

Twenty four businesses will be showcasing at the Expo, from North East powerhouse Rolls Royce to Proto, a North East England hub for innovation that is opening the first digital production facility in Europe to help organisations to transition to Net Zero using new technology.

The Green Trade and Investment Expo will be sponsored by Principal Partners, bp and SSE, and Official Partners, Amazon, Barclays and Atkins, who are crucial stakeholders in the UK’s transition to secure, clean and affordable energy.

 

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