With COP29 opening in Azerbaijan, the Prime Minister has announced that the UK will be the world leader in the pro-growth energy transition.
This will be done as the government looks to meet its election manifesto commitment in clean energy, by incentivising offshore wind developers to invest in the UK’s industrial heartlands, coastal area, and oil and gas communities. This will not only support sustainability goals, but will also boost green jobs, especially in areas that have traditionally been supported by carbon intensive industries.
The Clean Industry Bones will provisionally provide £27 million per gigawatt of offshore wind projects, meaning that the budget could reach as high as £200 million should between seven to eight gigawatts of offshore wind projects apply. This bonus will ensure that the conditions are created to help clean energy industries to thrive in the UK, whilst also tackling the climate crisis.
Prime Minister Keir Starmer said:
“Our mission to make Britain a clean energy superpower will fire up our industrial heartlands and break down barriers to growth in our hard-working towns and cities.
“It will strengthen our national security - protecting our children and grandchildren from the climate crisis, and impact this will have on their future prosperity.
“By acting decisively and early, the UK has an opportunity to lead the world in the industries of the future — working in partnership with business — creating real energy security, cutting energy bills and building jobs and supply chains in the UK.
“But we can’t move alone – and at COP I will lead efforts to protect Britain from climate change by also working with other countries to accelerate the global clean transition to tackle the causes at its root.”
The government has already begun work to reduce carbon emissions, as it works towards its mission for clean power by 2030. Some of the steps already taken include:
- Lifting the onshore wind ban in England
- Using the renewables auction to deliver a record number of clean energy projects
- Consenting on unprecedented numbers of nationally significant solar projects
- Launching GB Energy
- Kickstarting the UK’s Carbon Capture and Storage industry, including funding for clusters in Merseyside and Teesside
As it attends COP29, the government will use the event the encourage other nations to follow its lead and deliver change, particularly by making the case for supporting the global transition to clean energy. This will be done as the Prime Minister argues that the global economy depends on nature and a stable climate.
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