Boris Johnson: UK 'setting example' for green agenda
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The Prime Minister appeared at the Global Investment Summit on Tuesday where together with Microsoft co-founder Bill Gates, he vowed to invest in emerging green technologies. As part of the Government’s commitment to tackling climate change, the UK has attracted nearly £10billion in foreign investment that will phase out the use of fossil fuels and bolster the country’s renewables sector. The Government has also struck a deal with the Bill and Melinda Gates Foundation to fund a number of green projects over the next 10 years, with a focus on carbon capture and storage, hydrogen and long-term battery life.
The “breakthrough partnership” will focus on technologies that are yet to hit the market with the project expected to bear fruit within the next five years.
Speaking at the summit, which is being hosted at the Science Museum in London, the Prime Minister said the UK is going through a period of “huge transformation”.
He quipped this will lead to the UK becoming the “Klondike of carbon capture” and the “Qatar of hydrogen”.
Mr Johnson said: “The first is the green industrial revolution, the 10 Point Plan, the new Decalogue that I brought down from Sinai last year, which is today being elaborated in our plan for net zero, to build back greener.
“This was the first nation to industrialise, to send the plumes of smoke from the Midlands.
“We were the first to knit the deadly tea cosy of CO2 that is now driving climate change.
“And so we have a responsibility to set an example and we are.
“We are already the Saudi Arabia of wind power, with more offshore wind than anywhere else on Earth.”
The Prime Minister also praised the UK’s target of hitting net zero emissions by 2050.
Boris Johnson outlines plans to hit net zero
Towards this goal, the UK will slash emissions by 78 percent 2035 and will build back greener with enough offshore wind power by 2030 to power every home in the country.
Earlier this month, the Prime Minister increased the Government’s previous target of 30GW from renewables to an even more impressive 40Gw.
The Government will also phase out the use of the combustion engine for cars, instead opting for green hydrogen power.
Speaking to the 200 business leaders at the summit, he said: “That’s why we’re making the big bets that we are with you on [electric vehicles] and gigafactories, and we want to go further.”
As part of the deal struck with the Gates Foundation, the Government will provide £200million for private sector investment, with the foundation matching the funds.
Together, the £400million Breakthrough Energy Catalyst will accelerate the UK’s push for net zero.
Mr Johnson said: “We will only achieve our ambitious climate goals if we rapidly scale up new technologies in areas like green hydrogen and sustainable aviation fuels – technologies that seemed impossible just a few years ago.
“Ahead of COP26, this new partnership with Catalyst is a boost to the UK’s vision for a green industrial revolution.
“It will help to bring innovative technologies to market globally while building new skills and creating high-quality jobs across the UK.”
Mr Gates also said: “Our partnership with the United Kingdom will accelerate the deployment of these critical solutions, helping to make them more affordable and accessible.
“In order to achieve net zero emissions, we need to reduce the costs of clean technologies so they can compete with and replace high-emitting products we use today – I call this difference in price the Green Premium.
“Working with public and private sector leaders, including the UK, Catalyst will be a key vehicle for reducing Green Premiums, building the clean industries of tomorrow, and creating lasting jobs in communities around the world.”
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