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Boris Johnson announces $616 million funding to cut greenhouse gases

Bloomberg
Bloomberg7/22/2020 03:54 PM GMT+08  • 2 min read
Boris Johnson announces $616 million funding to cut greenhouse gases
The funding will help drive down greenhouse gas emissions from heavy industry, construction, space and transport.
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(22 July): Boris Johnson announced £350 million ($616 million) of funding to help drive down greenhouse gas emissions from heavy industry, construction, space and transport as he seeks to bolster his environmental credentials and boost the UK’s economic recovery from coronavirus.

The cash will go into projects to scale up the use of hydrogen as a fuel, develop carbon capture and storage technology, and driving the use of “innovative materials” in heavy industry, Johnson’s office said late Tuesday in a statement. On Wednesday, the premier will hold the first meeting of the government’s new Jet Zero Council to help cut flight emissions.

The UK is trying to decarbonize its economy by 2050 to meet its own legally-binding “net zero” target, and both Johnson and Chancellor of the Exchequer Rishi Sunak have pledged to ensure the recovery from the coronavirus pandemic is a “green” one. The latest funding follows £3 billion of investment in insulation announced by Sunak earlier this month.

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