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Green Investment is set to Create New Jobs in the Trades - Dr. Jan Telensky

Green Investment is set to Create New Jobs in the Trades

Deputy Prime Minister Nick Clegg has announced a £100 million fund for green investment which will create new jobs in the renewable energy industry.

Speaking to an energy conference in London’s Lancaster House today, Mr Clegg defended the Government’s commitment to support the renewable energy sector, outlining lasting benefits to the UK low-carbon economy.

He announced multi-million contracts by UK Green Investments (UKGI) with fund managers Equitix and Sustainable Development Capital (SDCL) to provide initial capital to encourage foreign and domestic investment in non-domestic energy efficiency.

The Deputy Minister’s announcement was hailed with a £12 million expansion by a recycling firm Closed Loop in Dagenham, East London, that will create and safeguard 100 jobs.

The UK is the sixth largest market in low carbon goods and environmental services in the world. It contributes 3.9 per cent of the UK’s GDP and employs 173,000 people.

The Deputy Prime Minister said that the Coalition Government is ‘unreservedly committed’ to help Britain’s low carbon sector thrive, providing a clean and green economy.

He said: “There is a global energy revolution underway and the UK is not going to be left behind. We’re leading from the front.

“Together we find ourselves at the vanguard of one of the most dynamic, most innovative, most important industries of our time; an industry whose breakthroughs and endeavours will shape our societies for years to come; an industry that will help us build a more stable, more sustainable, more prosperous world.”