Boost for UK clean energy growth as PM arrives at COP29

The UK Government has announced in a press release a new commitment to clean energy including new investment, particularly in wind power. The Government plan is to reduce energy costs for consumers, increase energy security, and create skilled jobs, by increased investment in clean energy. In addition to the investment in wind, the new Government has already consented to 2GW of new solar installations (more then the last 14 years combined). 

In a more innovative initiative, the Government is also announcing the launch of the new ‘CIF Capital Market Mechanism’ on the London Stock Exchange. The new financial mechanism, has the potential to mobilise up to $75 billion in additional climate capital for developing countries over the next decade and help developing countries cut emissions, build renewable energy and adapt to a rapidly changing climate.

Hopefully the extra investment in solar, wind and other renewable energy sources, as well as energy storage and carbon capture will spur further innovation to help meet ambitious new climate goals.  

Visit the Marks & Clerk Energy Hub to explore how IP can help accelerate the race to ‘Net Zero’.