Commons Sense

House of Commons · Ministers' Questions

Green Industrial Sector

Thursday 9 February 2023 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • Green trade is a foundational building block of sustainable growth for the UK.
  • The Government have supported 20 billion of net zero-related inward investment in two years.
  • The Minister agrees with the concern that delaying renewable energy development could lead foreign investment overseas.

Topics (select to filter)

Questions & Answers

Q1 Selaine Saxby
Climate Energy Business & Trade
Context

The question arises from a focus on increasing trade opportunities for the green industry in the UK.

Question

What steps her Department is taking to help increase trade opportunities for the green industrial sector.

Answer from Kevin Hollinrake

Green trade is a foundational building block of sustainable growth, helping to protect our environment and our energy security, and future-proof UK jobs. In the two years to October 2022, the Government have supported £20 billion of net zero-related inward investment to help grow our green industries.

Partly answered

Not addressed: Specific actions by the department to increase trade opportunities for the green industrial sector were not detailed.

How: Green Trade Is A Foundational Building Block Of Sustainable Growth, Helping To Protect Our Environment And Our Energy Security, And Future-Proof Uk Jobs.

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Q2 Selaine Saxby
Economy Climate Energy
Context

The concern is that foreign investment may go overseas if the UK does not develop new renewable energy industries quickly.

Question

Does my hon. Friend agree that, if we drag our feet developing new renewable energy industries, foreign investment will go overseas?

Answer from Kevin Hollinrake

I agree with my hon. Friend and thank her for her incredible work on the Celtic sea initiative. I attended her reception in Parliament, which was very well attended indeed and very optimistic about the potential for the Celtic sea. We know that the net zero transition will create new industries worth around $10 trillion to the global economy by 2050. We recognise that the international landscape is becoming increasingly competitive as a result, but we are not dragging our feet. Securing inward investment to the UK's green economy is a top priority for the Government, and the Department will be working closely with the Department for Energy Security and Net Zero, UK Export Finance and the Office for Investment, using all the levers at our disposal to promote the UK offer overseas.

Partly answered

Not addressed: The specific actions being taken to secure inward investment were not detailed.

How: We Know That The Net Zero Transition Will Create New Industries Worth Around $10 Trillion To The Global Economy By 2050.

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