Energy and Clean Growth Minister Claire Perry announces the first phase of UK government’s energy innovation investment portfolio.
“Since I last spoke to you, just starting out at the department in June, a great deal has changed, and we have made real progress towards the goal of an economy built around clean growth.
We launched the Clean Growth Strategy in October, discussing carbon budgets and the gap that has opened over time, we are now estimating that we are just a couple of percentage points off our 4th and 5th budgets, which end in 10-15 years time. Given the pace of change, and the work in R&D and the help of so many of our innovators, I am confident that those gaps will be closed.
And the following month we published the white paper of our modern Industrial Strategy, which works to link up what we are doing in government, with what we would like to see industry doing, and change the game, to make the conversation between government and industry to drive productivity gains. You will see in there some of the highlights of sector deals and examples of how we will work together going forward. Also included are four big Grand Challenges, things that we know we have to do both to solve our own economic transitional challenges, but also to grow and prosper in a global economy, and one of those challenges is the Grand Challenge of Clean Growth. What is exciting about the past few months is that not only have we put forward 15 policies of how we will get our own carbon budgets, we’ve put that firmly in front of the way in which we want business and government to work together. And this is probably the first time that clean growth and technology has been prioritised as a challenge and opportunity right across government. It is important for clean tech and growth to have a voice at the cabinet table because so much we do works right across government.
Developing a new platform
Where government can help we will use all the tools at our disposal to support clean growth and low carbon innovation in our economy, including market design, taxation and regulation, as well as the funding of £2.5 billion we are providing. But as ever it will be industry which leads the way.
After the last event in June, I asked what more we could do to help the companies we have been supporting to get to market and that’s why today I am delighted to announce the first stage in the development of a new GOV.UK portfolio list bringing together all of the companies we have invested in since 2012. It’s a great first step in terms of showcasing what we are doing and how government is investing.
This is part of the commitment, made in our Industrial Strategy, to promote overseas investment into the UK’s clean economy, and strengthen our support for UK exporters. It will also be a showcase for our clean tech investments at home and abroad.
The first iteration of the platform will exist in the GOV.UK energy innovation pages and will include a trial version of the database, providing detailed information on the innovation projects and organisations which have benefitted from government funding since April 2012. This will bring greater transparency to the actions of government, but also highlighting the support on offer, and the types of projects which we in government want to encourage. Ceres Power Holdings plc (LON:CWR) and Anvil Semiconductors are two such companies, and I am pleased to see them here today.
