Government launches COP26 campaign to make more businesses ‘go green’

UKEF has projected that green trade will be worth £1.8tn by 2030 and is calling for more exporters to take advantage of this

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The UK government has launched a new campaign at COP26 to encourage more British businesses to go green.

Launched by the country’s export credit agency, UK Export Finance (UKEF), the campaign highlights the overseas renewable energy opportunities that businesses can take advantage of.

It has stated that renewable export opportunities will help the world in its net zero journey and predicts that green trade will be worth £1.8 trillion by 2030, delivering up to £170 billion in export sales of goods and services for the UK in this time.

UKEF has revealed it has large liquidity available for British businesses, with £50 billion capacity to support UK exports.

Around half of its current business development pipeline consists of green exports and it is looking to utilise COP26 to grow this number and instigate greater international cooperation to finance green projects.

Anne-Marie Trevelyan, International Trade Secretary, said: “UKEF has the tools exporters need to tap into green markets across the world with over £2 billion of lending dedicated to financing clean growth and huge capacity to support SMEs.

“The UK can be very proud of our expertise and quality, which are in demand around the globe. UKEF is here to provide the financial support our exporters need to grow and spur an international green industrial revolution.”