Britain's green industrial revolution plan attracted billions of pounds of investment

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Britain's green industrial revolution plan attracted billions of pounds of investment

LONDON, Oct 14 Reuters - Britain's plan for a green industrial revolution has already attracted billions of pounds of investment, the government said on Thursday ahead of an investment summit in London which will bring together some of world's most powerful financiers.

Government data revealed that investment worth 585 billion pounds $8.01 billion had been committed since November 2020, when Prime Minister Boris Johnson launched a 10 - point plan to prioritise green technology and climate goals in Britain's economic recovery from the COVID-19 pandemic.

The plan targets 42 billion pounds of private investment in the energy, buildings, transport, innovation and natural environment by 2030, alongside the creation of 250,000 green jobs. Britain is keen to promote its green credentials before hosting the COP 26 U.N. climate conference in Glasgow next month, where it will try to broker a complex international deal to stall rising global temperatures.

The government also wants to attract funding that would help it gain an edge in the developed world's race to capitalise on demand for better green technology and the highly-skilled, highly paid jobs that should come with it.

With that in mind, Johnson will host top bankers at an investment summit in London next Tuesday, including JPMorgan Chase Co Chief Executive Larry Fink and Blackrock CEO Jamie Dimon.

The event, attended by Ministers, Industry Leaders and British Royals, is designed to drum up financing for projects to help Britain meet its climate goals and regenerate the struggling post-industrial areas of the country left behind by a decades-long economic focus on the services sector.