Net Zero North West report highlights £207 billion green investments in region

A prospectus published by Net Zero North West, an industry-led organisation guiding the region towards reducing CO2 emissions, has highlighted green investments into projects in the North West worth £207 billion.

The report, produced by Siemens UK analysts, highlights 18 investment cases for projects in the region that demonstrate the North West’s capabilities for spearheading a ‘green industrial revolution.’ Plans aim to allow the North West to be the first UK region to achieve net zero carbon emissions by 2040. Projects including a net-zero industrial cluster, and clean energy projects providing tidal power, Liguid-Air Energy Storage and hydrogen production and storage facilities, could also support over 600,000 jobs and add £285 billion to the UK economy.

Net Zero North West’s prospectus was unveiled at a launch event alongside Business Secretary, Kwasi Kwarteng; he said:

“The North West led the first industrial revolution and today it’s leading the new green industrial revolution, bringing jobs and investment to communities across the region as we fight climate change and build back greener. 

“We’re already seeing this investment flowing, with government funding of £33m for hydrogen and carbon capture in the region and just this week, Vauxhall announced a £100m investment to build electric vehicles at Ellesmere Port.  

“It’s clear that if you think Net Zero, you think North West and I’m delighted to be a part of this special launch event and discuss the region’s prospects.”

Carl Ennis, Chairman, Net Zero North West and CEO Siemens GB said:

The North West is the only UK region that has everything required to deliver the UK’s first net zero region by 2040. There is no question that we have the vision, geography, expertise and infrastructure to deliver. Our strength lies in the unrivalled number of projects already happening on the ground, across hydrogen, renewables, carbon capture, nuclear and more. Working with Government, we are committed to real change that will not  only level up the country but is critical to reaching the UK’s net zero targets. Now is the time for action and this prospectus sets out how we will deliver.”

Andy Burnham, Mayor of Greater Manchester added:

“If we get serious now about the climate crisis, it will also help us tackle the post-pandemic jobs crisis. There are tens of thousands of good green jobs just waiting to be created across the North West – in retrofitting our buildings, modernising our energy systems, and decarbonising our transport. We are outlining our vision to achieve a net zero North West by at least 2040, 10 years ahead of the national target. Together, we hope to build a movement to make the North West the country’s leading force in the zero-carbon economy. We want to show the world that the North West of England is ready once again to lead an industrial revolution – this time a green one.”

Net Zero North West was established earlier this year to bring together business an political leaders from across the region and set a unified target for achieving net zero CO2 emissions by 2040, ten years ahead of the national target.