UK PM Starmer Unveils Major Steps at COP29 to Accelerate Clean Energy Transition

GG News Bureau
Baku, Azerbaijan, 13th Nov. At the opening of the World Leaders Summit at COP29 in Baku, Azerbaijan, Prime Minister Keir Starmer announced a significant push to position the UK as a global leader in the clean energy transition. He unveiled new measures designed to stimulate investment in clean supply chains, promote green jobs, and reduce emissions.

In a move to further boost the UK’s clean energy sector, the Prime Minister revealed the launch of a £1 billion deal for an offshore wind project. This investment will benefit the blade factory in Hull, marking a major win for British manufacturing. The project is part of the UK Government’s broader strategy to expand clean energy initiatives, enhance energy security, and create jobs in key sectors.

As part of the UK’s climate ambitions, Starmer announced the introduction of the Clean Industry Bonus, designed to incentivize offshore wind developers to invest in the UK’s industrial heartlands and coastal regions. This initiative, worth £27 million per gigawatt of offshore wind projects, is expected to generate a total of up to £200 million for up to 8GW of offshore wind capacity.

The Prime Minister emphasized that these steps align with the UK’s broader climate goals, including a commitment to reach net zero emissions and to reduce dependence on fossil fuels. He expressed confidence that by acting decisively, the UK will lead the transition to clean energy, creating job opportunities in high-skill sectors like engineering, welding, and electrical work across the UK.

“These investments are crucial for the future of our country. They will create thousands of jobs, reduce industrial emissions, and help us achieve the clean, secure, and affordable energy we need,” said Starmer.

To complement this, the Prime Minister announced that the UK would be stepping up efforts to encourage other nations to adopt similar measures and accelerate the global clean energy transition. His address at COP29 will also highlight the importance of working with international partners to secure future global climate targets.

Additionally, Starmer’s Government is already making strides toward tackling climate change, including initiatives like lifting the ban on onshore wind, funding carbon capture projects, and launching a new British energy initiative.

A key focus of the Prime Minister’s efforts is to encourage private investment in green energy. Last month’s International Investment Summit saw Iberdrola, a major player in renewable energy, double its investment in the UK from £12 billion to £24 billion over the next four years. This will fund several key projects, including the East Anglia TWO offshore wind farm, which will power approximately one million homes.

In a further boost to British manufacturing, Siemens Gamesa has been awarded a £1 billion turbine contract for the East Anglia TWO wind farm, which will see the creation of more than 1,300 jobs in Humberside.

The UK’s commitment to clean energy is also supported by the launch of the CIF Capital Market Mechanism on the London Stock Exchange. This innovative financial model aims to mobilize up to $75 billion in additional climate capital for developing countries, furthering global clean energy efforts without additional cost to British taxpayers.

Prime Minister Starmer concluded, “The UK’s clean energy mission will not only create jobs and reduce emissions at home, but it will also provide leadership on the global stage to drive the climate transition. Our work at COP29 is just the beginning of a transformative journey for our energy future.”