Trade Secretary steps up export support for clean growth businesses

International Trade Secretary, Anne-Marie Trevelyan announces Clean Growth programme

From:

Department for International Trade, The Rt Hon Anne-Marie Trevelyan MP, and The Rt Hon Grant Shapps MP

• International Trade Secretary, Anne-Marie Trevelyan announces Clean Growth programme to encourage more UK exporters to tap into a sector expected to be worth £1.8 trillion by 2030.
• Boosting green exports and attracting more green investment will create jobs and accelerate clean growth.
• The initiative will be formally launched today at COP26 at an event co-hosted by Formula E.

More British businesses will be able to seize the opportunities offered by the rapidly growing international green sector, thanks to a new programme launched today [11th November].

With experts predicting that the UK’s low-carbon economy could grow by

11% per year between 2015-2030 – four times faster than the rest of the economy – the Secretary of State for International Trade, Anne-Marie Trevelyan is encouraging clean growth businesses to start exporting their innovation globally.

The Clean Growth export programme will be formally launched at a COP26 event co-hosted by the Department for International Trade (DIT) and Formula E, the only all-electric motorsport World Championship and the world’s first sport to achieve a net zero carbon footprint since inception.

It is expected that the low-carbon economy will deliver up to £170 billion of export sales by 2030, and as the demand for British innovation and green tech increases, DIT wants to lead the charge by stepping up its support for clean growth exporters. By boosting export opportunities, this programme will help create green jobs across the country while speeding up the global transition to a low-carbon economy.

The programme will involve increased promotion of the UK’s green export capability by trade and investment teams in embassies around the world and via DIT’s digital platforms. By connecting UK exporters to new international opportunities, the new programme will encourage homegrown British businesses to export their clean-growth related goods or services globally.

Companies like Formula E have demonstrated the role businesses can play in the transition to a low-carbon economy. By actively promoting electric mobility and renewable energy solutions to reduce air pollution and fight against climate change, they are displaying UK green tech and electric vehicle innovation on a global stage. Formula E is attracting global interest and investment, supporting hundreds of jobs across the UK and leveraging British innovations which are being exported to markets around the world.

Anne-Marie Trevelyan, International Trade Secretary, said:

“Using green technology is crucial to combatting climate change. Through opening up new markets and providing export support, my department’s Clean Growth programme will help unleash the potential of UK businesses who are creating ground-breaking innovations in this area.”

Transport Secretary, Grant Shapps said:

“Investing in green technology is vital for the future of our planet and our future economic prosperity, as we find new ways to speed up the journey to net zero emissions.

“The Clean Growth programme proves that green technology will benefit the UK economy, as well as the environment, in the creation of thousands more green jobs.”

The Global Investment Summit attracted the world’s biggest investors and showcased the best of British innovation, highlighting the major investment opportunities that exist across the UK in clean growth. During the Summit, DIT announced 11 investments that were aligned to the Ten Point Plan, totalling £9.2bn, creating almost 23,000 jobs. This programme will build on this success, providing further opportunities for the UK to showcase its strength in the sector.

By 2050, there could be more than 1.2 million full time workers directly employed in England’s low carbon industries.

Jamie Reigle, Formula E CEO, said:

“The Department for International Trade’s Clean Growth programme will help boost clean growth exports and drive up green investment across the UK, enabling the proliferation of green technology.

“Formula E supports this action and is honoured to showcase the future technologies that we will see in cities around the world, many of which are being developed here in the UK.

“Our role as the ABB FIA Formula World Championship has never been more relevant or critical. We will continue to use our global platform to demonstrate the benefits of adopting cleaner forms of transport to tackle air pollution and climate change in the world’s cities.”