Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Tom Keighley

North East to host 'Green Trade and Investment Expo' touting £100bn investment opportunities

The North East will play a lead role in selling the UK's green economy opportunities to the world when it hosts new expo this autumn.

International Trade Secretary and Berwick MP Anne-Marie Trevelyan says the region will host a Green Trade and Investment Expo alongside the Department for Business, Energy and Industrial Strategy.

It is hoped the event will draw in UK businesses and global investors interested in the commercial opportunities arising from the country's drive towards net zero.

Read more: go here for more North East business news

The plans have been revealed ahead of a speech in which Ms Trevelyan will set out plans for the UK to harnessing trade to combat climate change, and how driving renewable energy can cut reliance on Russian oil and gas and reinforce the UK’s energy security.

She is expected to say: "This terrible conflict in Ukraine has underlined what can be achieved through a cohesive global approach. It has also reminded the globe that we must de-Putinise t.he world’s economy.

"We are doing this through sanctions, and by cutting off access to the oil revenues that power his war machine. That’s why here in the UK, we have announced we will phase out imports of Russian oil and gas.

"These past months have highlighted the need to accelerate our journey as a global community away from hydrocarbons. To decisively turn our backs on the era of dependence on polluting fuels, and transition to a Net Zero future."

The Government says the international market for low-carbon exports is expected to reach almost £2trn in the next eight years.

Ms Trevelyan will add: "Delivering net zero is not just in the world’s environmental interest but it is in our economic interest too.

"The financial case for green trade is very clear. The global market for low-carbon exports is growing rapidly. By 2030, it’s projected to be worth almost £2trn.

"A potent combination of ambitious entrepreneurs, high ambitions and steadfast and determined government backing, has put the UK in a leading position to take a first mover advantage here.

"This translates into some exciting opportunities for us. Quite simply - green trade spells green jobs."

Business and Energy Secretary Kwasi Kwarteng said: "Now more than ever we need innovators, wealth creators and risk-takers to invest their billions into new British industries to create hundreds of thousands of jobs and shore up our energy security – all the more important as Putin wages his illegal war in Ukraine.

"With investment opportunities worth up to £100bn up for grabs, our Expo later this year will fly the flag for Britain as we look to accelerate our plans to generate more home-grown clean energy and boost British manufacturing."

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.