The government has announced that is leading a global agreement to make green technologies cheaper and more accessible around the world.

Earlier this week prime minister Rishi Sunak unveiled £66 million of funding for the Clean Energy Innovation Facility (CEIF) at this year’s Climate of the Parties (COP27).

Launched in 2019 by the department of Business, Energy & Industrial Strategy (BEIS), the CEIF provides grants to researchers and scientists in developing countries to accelerate the development of clean technology.

The funding builds on last year's launch of a coalition of countries to scale and quicken the pace of the development of clean technologies while driving down costs.

The funding and coalition will make these technologies more accessible and affordable to developing countries, said the government.

Grant Shapps, who was appointed secretary of state for business, energy and industrial strategy last month, told world leaders that it will be the “efforts of entrepreneurs, innovators and the international community” which will help cut global emissions over the next 10 years and achieve net zero by 2050.

“Green means growth, and with our existing talents in clean technologies, UK businesses could be world leaders in an industry that will only expand, creating jobs for generations to come while also protecting our precious planet,” the business secretary told world leaders. “At COP27 we are leading international efforts to ensure these new innovations can be more accessible and affordable to heavy, energy-intensive industries in some of the world’s poorest countries.”
He said that the agreements play a significant role in meeting net zero targets."

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