Clean energy investment 'future-proofing force': UK trade secretary

“We can only tackle climate change by using free trade and investment to accelerate green technological progress. And we must do this in a way that does not impoverish the UK,” she said.

Second, Russia’s invasion of Ukraine has made it quite clear that relying on authoritarian regimes can make it tougher to heat homes. “Our trade relationships will help secure our energy supply. But it’s long-term investment in nuclear and renewables that will reduce our dependence on fossil fuels and keep down consumer costs,” she said.

Ideas being developed by green industries will contribute a lot to find a way through the present times of low growth.

And the United Kingdom is quickly becoming the green creativity capital of the world, she said offering a few examples of UK companies that have developed green innovations.

“Our analysis shows that by the end of this decade, our green industries could create up to £170 billion of export sales,” she said.

By 2050, the country could generate 1.4 million green jobs, she said citing government statistics.

Her department has set itself a goal of accelerating towards a trillion pounds worth of exports a year earlier than forecast, she said, adding that UK Export Finance will help businesses get loans and guarantees needed.

Fibre2Fashion News Desk (DS)