No-one wants any more green costs – but UK is now leading the world PENNY MORDAUNT | Express Comment | Comment | #ukscams | #datingscams | #european

It was, however, a clear signal to the world that the country had the courage to follow a democratic mandate. It was also a signal to risk-taking entrepreneurs everywhere. The UK is a place where the future is welcome. The economy is now in transition to accommodate innovation and internationalisation. Entrepreneurial companies love change. Government policy has to keep pace.

There has been lots of debate about the Government’s green and net-zero agenda.

We don’t need any more costs imposed on anyone at present. We do though, have international obligations and we also have ambitious plans for whole new areas of economic growth.

We know that we can only meet our targets through innovation that consumers love and will want to adopt.

There is some way to go. We will only be successful if we can bring people, money and ideas together, and that is what we are doing.

Britain is the largest generator of renewable power through offshore wind installations.

This lead in green tech is attracting a lot of outside interest.

For instance, Israeli electric vehicle start-up REE will open a multi-million pound UK factory and plans to double its workforce.

This production facility in Coventry will be heavily automated, but the group’s UK workforce will still double.

In a similar way, Cleantech company Levidian has signed a £700m export deal with Zero Carbon Ventures for its LOOP devices to be used in the UAE to cut half a million tonnes of carbon dioxide equivalent (CO2e). 

This deal will see these devices deployed across 500 sites in the UAE over the next 10 years in oil and gas companies and government agencies. 

The first will be located at a site in Abu Dhabi. This will create 100 new jobs in Cambridge where the company is headquartered and its devices will be made.

Investment in companies that make technologies designed to help society become more sustainable is on the rise in the UK. 

The amount of investment secured by the UK’s cleantech sector hit a new high of £134bn in 2021, which is 4.4 percent higher than the previous record set in 2018, research by GovGrant has shown.  

The UK is a leading nation in the field of cleantech.

In construction, Mace has secured two sustainability-linked loans worth a combined £60m to support its overseas growth and environmental projects – one of the biggest deals of its kind. 

The loans are linked to three environmental, social, and corporate governance-led performance indicators, which measure the firm’s performance on carbon reduction, increasing the use of renewable energy, and improving health and safety performance.

The Green Trade and Investment Expo, announced by the Secretary of State in a speech on green trade is to be held in the North East in autumn this year. 

The Local Enterprise Partnership has identified more than £600 million of low carbon infrastructure projects in the North East region which could benefit from investment secured at the Expo.

In a similar way, Equipment manufacturer Megger has secured a Government backed loan of £138m, which it will use to expand its operations and increase exports, creating jobs in the process.

This will help the company grow and invest in green technologies at its manufacturing headquarters in Dover, boosting high-skill green jobs in the region.

Perhaps one of the most exciting investments is from Airbus. 

The company has announced it will launch a new research hub at its base near Bristol to develop hydrogen technologies as part of efforts to decarbonise aviation. 

The aerospace giant has revealed it will increase its innovation footprint in the UK by establishing its Zero Emission Development Centre (ZEDC) at Filton. 

The new centre will accelerate skills and knowledge of hydrogen-propulsion technologies in the UK.

These are just a few examples, in just one sector. Government is determined to open up opportunities and remove barriers to enable more business to be done.  

All this change is fuel for can-do, forward-looking, energetic, positive individuals. 

I’m proud of them and their visionary courage to take on the future.

Their confidence and commitment is inspiring.