• REA encouraged by Shadow Chancellor’s promise of £28bn capital investment in our country’s green transition for each and every year of this decade;
• Rachel Reeves MP also pledged jobs in green industries of the future, including offshore wind, electric vehicles in giga factories, and good new jobs in communities throughout Britain;
• However, REA says that we need urgent investment in renewables and clean technologies from the current government to meet Net Zero targets;

The Association for Renewable Energy and Clean Technology (REA) have welcomed the Shadow Chancellor’s promise of £28bn capital investment in our country’s green transition for each and every year of this decade. However, the Association has urged the current Government to show the same ambition and provide the immediate investment in renewables and clean technology needed to achieve the UK’s net zero targets.

In her speech to Labour’s annual conference in Brighton, Rachel Reeves said that she would be Britain’s first ‘Green Chancellor’, and that, as Chancellor, she would invest in “good jobs in green industries of the future”, including offshore wind, electric vehicles in giga factories, and good new jobs in communities throughout Britain.

The Leeds West MP said that she does not want children to grow up in a country that does not tackle the climate crisis, spoke of the need for wise investment to tackle climate change and stressed the plan to ensure that more is “bought, made and sold” in Britain.

REview21, the REA’s state of the industry annual report published in July, found that nearly 200,000 extra jobs could be created in the UK renewables and clean technologies industry by 2035. This figure could be even greater with further government support.

Dr Nina Skorupska CBE, CEO of Association for Renewable Energy and Clean Technology (REA), said:

“The UK’s renewables and clean technology sector must be at the heart of both our current and any future Government’s Net Zero ambitions and economic recovery plans.

“Therefore, it was encouraging to hear today’s speech from the Shadow Chancellor, which did include the promise of £28 billion of capital investment in our country’s green transition for each and every year of this decade, as well as “good jobs in green industries of the future”. This is the level of ambition we need to see.

“However, the time for promises is fast running out – the present Government has to properly back our sector today with the investment required to immediately unlock thousands of green jobs in our sector and drive down emissions to avert the climate crisis.”

—ENDS—

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Notes to editors

About the Association for Renewable Energy and Clean Technology (REA):

The Association for Renewable Energy and Clean Technology (known as the REA) is the UK’s largest trade association for renewable energy and clean technologies with around 550 members operating across heat, transport, power and the Circular Economy. The REA is a not-for-profit organisation representing fourteen sectors, ranging from biogas and renewable fuels to solar and electric vehicle charging. Membership ranges from major multinationals to sole traders.

For more information, visit: www.r-e-a.net