investment
It intends to finance and facilitate a wide array of climate solutions, including renewable energy, clean technology, water conservation, green buildings and sustainable agriculture and land use
They will work together on the development of renewable energy and the carbon market, the enhancement of the electrical grid and the decommissioning of old thermal capacity, among other things
The investment comes as the company continues its work to develop the first Alcohol-to-Jet facility of its kind, a commercial-scale plant with 10m gallons per year capacity
The fund will target companies offering goods and services that are providing solutions for climate change mitigation and adaptation, as well as invest in companies that are aligning their business models to be resilient in a low carbon world
The investment will be made in network improvement, environmental sustainability and new community energy projects across the Midlands, South West and Wales as set out in its second draft RIIO-ED2 business plan
The funding will support a programme to upgrade pipelines to make the gas distribution network hydrogen-ready and reduce carbon emissions
The benchmark has been set up to define the key elements of a ‘net zero aligned’ business strategy and evaluate the actions being taken to get there
Business Secretary Kwasi Kwarteng says the money will be used to support green mobility technology projects in Cwmbran, Warwickshire and Ballymena
That is according to a report by Imperial Business School and the IEA, which suggests a better risk/return profile for clean energy over fossil fuels
The strategy calls for the government to invest an initial £5.3bn to help kickstart the retrofit market
