PM commits additional £350m to green economic recovery from coronavirus (COVID-19)

PM commits additional £350m to green economic recovery from coronavirus (COVID-19)

The Prime Minister has announced that an additional £350m funding is to be made available to tackle climate change and drive a green economic recovery from coronavirus (COVID-19). The funding will help to cut emissions across the heavy industry, construction, space and transport sectors as part of the UK’s commitment to reach a net zero by 2050. Funding will be awarded to projects developing new technologies that could help companies make the switch to more energy-efficient means of production, use data more effectively in tackling climate change and create new green jobs. Alongside this, the Prime Minister has launched the first meeting of the Jet Zero Council, an initiative which brings together government representatives from the environmental sector and aviation and aerospace industry to discuss how to decarbonise the aviation industry.

Funding is allocated in the following areas:

• £139m to cut emissions in heavy industry by transitioning from natural gas to clean hydrogen power and scaling up carbon capture and storage technology

• £149m to encourage the use of innovative materials such as reuse waste ash in the glass and ceramics industry, and the development of recyclable steel

• £26m to support advanced new building techniques in the construction industry

• £10m boost for state-of-the-art construction technology, for 19 projects focussed on improving productivity and building quality

• launching a New National Space Innovation Programme, backed with £15m initial funding from the UK Space Agency, the first £10m of which will back projects that monitor climate change across the globe

• opening up a further £10m for research and development in the automotive sector

Source: PM commits £350 million to fuel green recovery

Related Articles:
Latest Articles: