Sunday, December 22, 2024

Qatar to invest £1bn in UK climate tech partnership

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In a landmark agreement marking Qatar’s state visit to the United Kingdom, the Gulf nation has committed £1 billion to climate technology investments, promising to create thousands of jobs and bolster Britain’s ambitions as a clean energy superpower.

The partnership will primarily benefit Rolls-Royce, with investments targeting technology programmes that improve energy efficiency, support sustainable fuels, and reduce carbon emissions. British prime minister Keir Starmer expressed pride in the collaboration, stating: “I am proud that Qatar has chosen to base this global partnership here in the UK and I am delighted that the project is getting off the ground with this initial £1 billion commitment.”

The agreement includes establishing climate technology hubs across the UK and Qatar, with plans to support start-ups focusing on energy efficiency, carbon management, and green power. These initiatives are expected to generate highly skilled employment opportunities in both nations.

Qatar’s prime minister, Sheikh Mohammed Abdulrahman al Thani, highlighted the strategic significance of the partnership, noting: “The United Kingdom has a proud history of innovation in cutting-edge technology, and Qatar has long been a trusted investment partner to British businesses.”

Rolls-Royce’s chief executive officer Tufan Erginbilgic welcomed the collaboration, emphasising that “enabling the energy transition through lower carbon technologies is a key part of our strategy” and expressing delight at Qatar’s support.

Beyond climate technology, the partnership will also explore closer ties in genomics and artificial intelligence, with plans to establish a shared Genomics Medicine Academy and a joint commission on AI research.

The business and trade secretary Jonathan Reynolds described the investment as “a huge vote of confidence in the UK” that will “help create thousands of highly skilled jobs” and contribute to Britain’s commitment to becoming a clean energy superpower.

This agreement builds on Qatar’s existing significant investments in the UK, which include ownership of Canary Wharf and stakes in major British institutions.

The state visit represents a strategic milestone in UK-Qatar relations, promising substantial economic and technological collaboration in the years ahead.


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