INTIEAUnited Kingdom · Ten Point Plan for a Green Industrial Revolution - Point 10: Green Finance and InnovationPolicyIn force

Ten Point Plan for a Green Industrial Revolution - Point 10: Green Finance and Innovation

As part of the Ten Point Plan for a Green Revolution, the last point focuses on developing green finance and innovation.   A GBP 1 billion Net Zero Innovation Portfolio will help to accelerate the commercialization of innovative low-carbon technologies, systems and processes in…

Last changed 3 years ago.

Extracted view for reading · Original for compliance evidence

Lifecycle

  1. Effective
  2. Last change

Country / jurisdiction: United Kingdom · Year: 2020 · Status: In force · Level: National · Type: Voluntary

As part of the Ten Point Plan for a Green Revolution, the last point focuses on developing green finance and innovation.   A GBP 1 billion Net Zero Innovation Portfolio will help to accelerate the commercialization of innovative low-carbon technologies, systems and processes in the power, buildings, and industrial sectors. Priority areas for innovation and investment outlined in the plan include: - floating offshore wind, advanced modular nuclear reactors, energy storage and flexibility, bioenergy, hydrogen, direct air capture and advanced CCUS, industrial fuel switching, disruptive technologies such as artificial intelligence for energy- a GBP 100 million investment in brand-new Greenhouse Gas Removal technologies, including Direct Air Capture and an additional GBP 100 million for Energy Storage and Flexibility innovation challenges - GBP 222 million for the STEP programme (Spherical Tokamak for Energy Production) to support the development of the world's first commercially viable fusion power plant in the UK by 2040, and GBP 184 million for new fusion facilities, infrastructure and apprenticeships to lay the foundations of a global hub for fusion innovation - Investment in transport innovation with new technologies (GBP 3 million in Tees Valley Hydrogen Transport Hub, GBP 20 million  across trials of zero emission heavy good vehicles)- GBP 170 million to support the green recovery across Latin Am, Africa and Asia, since June 2020  This project is expected to support hundreds of thousands of jobs by 2030, deploy GBP 1 billion of government funding in net zero innovation with GBP 1 billion matched funding and potentially 2.5 billion GBP of follow-on funding from the private sector, while reducing greenhouse gas emissions.

Official source: https://www.gov.uk/government/publications/the-ten-point-plan-for-a-green-industrial-revolution/title

Source

https://www.iea.org/policies/12529

Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.

Related in International

INTEnergy Newsoilprice:oilprice-article-45284NewsIn force

Brazil’s New Oil Frontier Could Keep Its Boom Alive For Decades

Brazilian President Luiz Inácio Lula da Silva has hailed a new offshore oil discovery by Petrobras (NYSE: PBR) near the mouth of the Amazon River as a "passport to the country's future", continuing his support for controversial oil and gas drilling in Amazon's ecologically sensitive regions. Last week, the state-run Oil & Gas giant announced it has found oil at the Morpho-1 well (Block FZA-M-59) in the mouth of the Amazon roughly 180 kilometres (112 miles) off the coast of Amapa state, “All of our studies indicate substantial potential.…

11 hours ago
INTEnergy Newsoilprice:oilprice-article-45283NewsIn force

Houthis Move to Gain Complete Control Over Crucial Bab el-Mandeb Oil Chokepoint

The Yemeni Houthis are planning to seize land along the Yemeni coast in the Bab el-Mandeb Strait, tightening their control of the chokepoint. The information comes from the minister of information in the government that the Houthis are fighting in Yemen and suggests further disruption to marine traffic on one of the world’s busiest trade routes. “The Houthi militia... is working to create the conditions for seizing control of the Bab al-Mandab Strait by expanding its presence along the western coast and attempting to control strategic…

12 hours ago
INTEnergy Newsoilprice:oilprice-article-45282NewsIn force

Hormuz Oil Crisis Accelerates Global EV Sales

Global electric vehicle sales have surged this year following the oil supply disruption in the Middle East and the second oil price shock in four years. The accelerating EV adoption that began with the spike in oil and fuel prices earlier this year is set to remain a trend in the global markets and could push the share of EVs in the passenger fleet above earlier expectations, analysts at Wood Mackenzie say. Challenges to accelerated adoption still remain, including the need for billions of U.S. dollars in investments in critical battery minerals…

13 hours ago
INTEnergy Newsoilprice:oilprice-news-45284NewsIn force

Washington Eases Gasoline Rules as Iran Pressure Campaign Jolts Fuel Costs

Washington is tightening the screws on Iran and loosening the rules on gasoline at the same time as Americans are paying more than $4 a gallon. The Environmental Protection Agency on Thursday authorized an early switch to cheaper winter-grade gasoline, allowing sales of gasoline blended with 10% ethanol beginning September 1 rather than waiting for the normal mid-September seasonal transition. The administration says ending summer-blend requirements early could add hundreds of thousands of barrels per day to domestic gasoline supply and provide…

14 hours ago
INTEnergy Newsoilprice:oilprice-article-45270NewsIn force

How Solar Panel Prices Fell 90 Percent In 15 Years

Solar power is far and away the world’s fastest-growing form of energy production, beating out every other form of energy on Earth in 2025. Despite a recent political pivot away from renewable energies in the world’s largest economy, solar power additions continue to shatter its own records year over year as the sector has long since outgrown any need for subsidies. Solar power has simply become too cheap to fail. “We have a plentiful and cheap source of electricity that can be built quickly, almost anywhere in the world,”…

14 hours ago