Tag: Press Release

PRESS RELEASE : Big steps forward in capital markets cooperation with India [September 2023]
The press release issued by HM Treasury on 11 September 2023.

Indian firms could soon list in London, it has been announced as part of a package of plans unveiled today by the Chancellor Jeremy Hunt alongside Indian Finance Minister Nirmala Sitharaman, as they met in Delhi for face-to-face talks.
Jeremy Hunt, Chancellor of the Exchequer, today unveiled a series of shared economic and financial commitments with India, following talks with Indian Finance Minister Nirmala Sitharaman in Delhi

the Chancellor welcomed India’s confirmation to explore London as a permitted jurisdiction for overseas direct listings of securities

agreements also include the launch of a partnership to boost cross-market investment by the insurance and pension sectors and an initiative to share expertise in structuring and financing major infrastructure projects

The news that India will explore potential London listings follows recent changes to Indian regulation to allow domestic companies to access global markets and underlines the UK capital’s strength as a hub for international capital raising.

In addition, a new UK-India Pensions and Insurance Partnership will support the growth of the sector in both countries. The partnership will focus on knowledge sharing, growing bilateral investment and diversifying risk, including through pension fund trade missions to encourage increased bilateral investment.

The launch of a UK-India Infrastructure Financing Bridge was also announced today. Co-led by Indian public policy think tank NITI Aayog and the City of London Corporation, the initiative will focus on sharing expertise in structuring and financing major infrastructure projects.

The announcements are part of a series of commitments unveiled following high-level meetings as part of the 12th UK-India Economic and Financial Dialogue (EFD).

Jeremy Hunt, Chancellor of the Exchequer, said:

“I’m very proud of the progress we’ve made through the UK-India EFD this time. It’s a big step forward to hear India confirming that they’ll explore the London Stock Exchange as an international destination for the direct listing of Indian companies.

“I see India as Asia’s Silicon Valley and the UK as Europe’s Silicon Valley, so there’s a lot we can work on together.”

Total trade between the UK and India was worth £36.6 billion in the last financial year, up over 34% year on year, with an £82 million increase in UK-Indian financial services trade over last year. EFDs are a regular way of deepening ties to grow the economies of both countries.

Investment between the UK and India so far already supports over half a million jobs across both economies, and UK businesses sold goods and services worth around £15 billion to India in 2022.

Today’s EFD was the first face to face meeting of its kind between a UK chancellor and Indian counterpart since 2017, with the most recent taking place virtually in 2021. India-UK trade has more than doubled since the first EFD in 2007.

Other major announcements as part of the EFD, include:

The signing of the UK guarantee to the World Bank to unlock an additional $1 billion of green financing in India. This will promote clean energy investment and support green growth targets, accelerating India’s climate transition and ability to meet COP26 commitments. It is hoped that it will encourage other international partners to support India and shape the world’s climate transition.

Agreement to explore new investment opportunities in areas of shared priority, including leveraging institutional capital to invest in climate adaptation and green businesses in India. This builds on the success of the Green Growth Equity Fund, India’s first dedicated climate change fund backed by British International Investment.

The EFD follows Prime Minister Rishi Sunak’s visit to Delhi for the G20 leaders’ summit, where he announced that the UK will provide $2 billion to the Green Climate Fund – the biggest single funding commitment the UK has made to help the world tackle climate change, which will make a significant contribution towards the UK’s pledge to spend £11.6 billion on international climate finance, cementing our global climate leadership.

It also comes after the recently announced ‘Alive with Opportunity’ campaign from the UK government, designed to showcase the deep bond between Britain and India and build on the continuous exchange of people, ideas and culture. The campaign is part of the UK’s ambitions to double trade with India by 2030.

Bill Winters, CBE, Group Chief Executive, Standard Chartered and UK Chair of the India-UK Financial Partnership (IUKFP), said:

“I was delighted to lead a delegation of UK business leaders to accompany the Chancellor of the Exchequer to New Delhi and participate in the EFD. The IUKFP is a crucial platform for UK-India cooperation on issues of critical importance to our respective financial and related professional services industries.

“This innovative public-private partnership has delivered real benefits for both our nations. We look forward to working with both governments to advance our shared goals, including deepening our bilateral trade and investment relationship, greening our financial systems, enhancing collaboration on financial innovation, and enabling cross-border data flows. India and the UK are natural partners, and there are valuable opportunities for us to learn from our respective successes and benefits to be gained by harnessing our full potential.”

Chris Hayward, Policy Chairman of the City of London Corporation, said:

“I am delighted that the City of London Corporation is able to play a part in the Economic and Financial Dialogue (EFD) through the India-UK Financial Partnership and our co-sponsorship of the UK-India Infrastructure Financing Bridge (UKIIFB) with the National Institution for Transforming India (NITI Aayog). This new infrastructure initiative is aimed at leveraging the City of London’s expertise in structuring and phasing major projects to meet India’s infrastructure needs – smoothing the path for long-term sustainable investment into India.

“The EFD marks the strength of the partnership between UK and India and lays an excellent foundation for future ventures between our financial and professional services sectors.”
September 13, 2023
PRESS RELEASE : UN HRC54 – UK Statement on Sri Lanka [September 2023]

The press release issued by the Foreign Office on 11 September 2023.

Statement on report of OHCHR on promoting reconciliation, accountability & human rights in Sri Lanka. Delivered by UK Ambassador to the WTO & UN Simon Manley.

Thank you Madam Vice President,

Deputy-High Commissioner, let me thank you for your report and update.

The UK welcomes Sri Lanka’s initial commitments to implement devolution in line with the constitution, to address land issues, and to advance governance legislation. It is important that these commitments are matched by tangible progress on the ground.

We also note longstanding commitments to replace the Prevention of Terrorism Act, and urge the Government to ensure terrorism legislation is consistent with Sri Lanka’s international obligations. We encourage too the further release of long-term detainees.

We call on Sri Lanka to safeguard the rights to freedom of peaceful assembly and association, and to freedom of expression. The right to freedom of religion or belief must be respected, and communities must be allowed to remember their loved ones.

The discovery of another mass grave [in Mullaitivu] highlights the urgent need for an adequately resourced, independent, and transparent approach to dealing with the past.

Justice, accountability, and reconciliation are at the heart of our approach and we hope in Sri Lankans. We acknowledge commitments to make progress in transitional justice and urge Sri Lanka to ensure any process carries the support of victim communities, builds upon past recommendations, and meets international standards.

Thank you.

September 13, 2023
PRESS RELEASE : UN HRC54 – Joint Statement on Sri Lanka [September 2023]

The press release issued by the Foreign Office on 11 September 2023.

Statement by Sri Lanka Core Group comprising Canada, N Macedonia, Malawi, Montenegro, United Kingdom and United States. Delivered by UK Ambassador, Rita French.

High Commissioner,

We welcome your report on Sri Lanka.

Sri Lanka has made important recent commitments on land issues and devolution of political authority. We encourage Sri Lanka to turn these commitments into meaningful action and deliver long-awaited results. Sri Lanka still has a long way to go to fulfil commitments to justice, accountability, and reconciliation.

We note preparations for a truth and reconciliation commission, and emphasise the importance of an inclusive participatory process in the establishment of any mechanisms to advance transitional justice, to gain the confidence of all affected communities, in line with international best practices.

We are concerned by continued incidents of intimidation and harassment of civil society and journalists, and by the arbitrary use of laws to suppress dissent.

As Sri Lanka takes forward its economic recovery, we stress the importance of effective governance reforms and note the recent anti-corruption legislation. This must be accompanied by safeguarding established independent institutions, and democratic processes.

We call on Sri Lanka to work with the High Commissioner and his office [and remain ready to support Sri Lanka in addressing HRC resolution 51/1.]

September 13, 2023
PRESS RELEASE : Jonathan Bewes appointed as Non-Executive Director to the Court of the Bank of England [September 2023]

The press release issued by HM Treasury on 11 September 2023.

In this role Jonathan will also become the Chair of the Court’s Audit and Risk Committee and will take up the role later this Autumn.

The Chancellor has announced that Jonathan Bewes has been appointed as a new Non-Executive Director of the Court of the Bank of England, and will become the Chair of the Court’s Audit and Risk Committee. His Majesty The King has approved the appointment.

Jonathan will take up his role in Autumn 2023 for a term lasting four years.

The Bank’s Court acts as the governing body responsible for setting the organisation’s strategy, budget and taking key decisions on resourcing and appointments. The Audit and Risk Committee assists Court in meeting its responsibilities for an effective system of risk management, internal control and financial reporting, among other duties.

David Roberts, the Chair of the Bank’s Court, said:

“I am delighted to welcome Jonathan Bewes to the Bank of England’s Court of Directors. Jonathan will Chair the Bank’s Audit and Risk Committee, a sub-Committee of Court. Jonathan’s extensive experience, expertise and skills will provide both Committees and the Bank with key insights and challenge.”

About the appointments

The Bank of England is the central bank of the UK. It is governed by the board of directors known as the Court of Directors. Further information can be found at the Bank of England website.

All members of Court are appointed by His Majesty the King, on the recommendation of the Prime Minister and the Chancellor of the Exchequer.

Public appointments are made on merit following a fair and open competition process. In accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity (if any is declared) to be made public. Jonathan has confirmed he has not engaged in any political activity in the last five years

This appointment is regulated by the Commissioner for Public Appointments, who provides independent assurance that appointments are made in accordance with the Government’s Principles of Public Appointments and Governance Code.

About Jonathan Bewes

Since qualifying as a Chartered Accountant with KPMG, Jonathan has spent over 30 years in the Banking Industry. The majority of this time was spent with Robert Fleming, UBS and Bank of America Merrill Lynch acting as an Investment Banking adviser to the Boards of large, predominantly U.K. public companies on a wide range of financial, strategic and governance issues. From 2017 until earlier this year, he served as Vice Chairman, Corporate and Institutional Banking at Standard Chartered Bank. Jonathan also sits on the Board of Next plc, where he is the Senior Independent Director and chairs the Audit Committee and on the Board of Sage Group plc, where he chairs the Audit and Risk Committee

September 13, 2023
PRESS RELEASE : Business and Trade Secretary signs landmark first partnership with EU nation to boost British exports [September 2023]
The press release issued by the Department for International Trade on 11 September 2023.
- Kemi Badenoch signs UK-Italy export and investment partnership on visit to Rome – the first such partnership between the UK and any EU country.
- Partnership will strengthen our post-Brexit export and investment links with Italy and intends to boost a trade relationship worth more than £43 billion.
- Business and Trade Secretary will also co-chair the first UK and Italy CEO Forum, bringing together businesspeople from the two countries to bang the drum for the UK as a top investment destination.
The UK and Italy have today (Wednesday 8 February) agreed a momentous trade partnership to boost UK exports, help create jobs, increase wages and grow the economy.

On her first overseas visit as the Business and Trade Secretary, Kemi Badenoch MP and Italy’s Minister for Foreign Affairs and International Cooperation and Deputy Prime Minister Antonio Tajani met in Rome today to sign the UK-Italy Export and Investment Promotion Dialogue – the first agreed between the UK and any EU country.

The partnership aims to strengthen exports in high-performing and growth sectors of the future, such as Life Sciences and Digital and Tech, as well as promoting inward investment, including low-carbon industries such as Offshore Wind and Carbon Capture Storage.

The agreement reinforces the UK’s position as a vital trade partner within Europe and the G7. It demonstrates how we can use our position as an independent trading nation to agree comprehensive trade deals with new markets, while also strengthening partnerships with EU members.

Business and Trade Secretary Kemi Badenoch MP said:

“This partnership marks a significant milestone in the UK’s trading relationship with Europe and shows how an independent UK can benefit from striking ambitious trade deals with the world, while also reinforcing our already strong and prosperous trading relationship with EU members such as Italy.

“This partnership will boost trade and investment between British and Italian businesses, ease the path for valuable investment, and will crucially grow UK exports as we aim for our target of selling £1 trillion of goods and services a year to the world by the end of the decade.”

Both the UK and Italy are in the top 10 global economies. Trade between the UK and Italy is worth more than £43 billion, making it the UK’s 11th largest trading partner.

The most popular UK exports to Italy include cars, worth £932.5 million and equivalent to 10.1% of all UK goods exported to Italy, and £507.7 million worth of mechanical power generators.

In 2020-21, Italy was also the 6th largest source of UK Foreign Direct Investment (FDI) projects globally.

During her visit, the Business and Trade Secretary will co-chair the first UK and Italy CEO Forum, alongside the Minister for Enterprises and Made in Italy Adolfo Urso. The meeting is the first of its kind and she will discuss her top trade priorities which include breaking down trade barriers, making the UK the undisputed top investment destination in Europe and attracting new investment helping to level-up the country.

She will also meet with the heads of major Italian investors in the UK including innovative wind turbine business ACT Blade, and Eni, world leading energy company.

Badenoch will also make the opening remarks at the 30th anniversary of the Pontignano Forum where she will discuss the importance of economic security and trade in turbulent times.
September 13, 2023
PRESS RELEASE : UN HRC54 – UK Statement on Myanmar [September 2023]

The press release issued by the Foreign Office on 11 September 2023.

Statement for the Interactive Dialogue on the Independent Investigative Mechanism on Myanmar. As delivered by the UK Human Rights Ambassador, Rita French.

Thank you, Mr President.

The UK is grateful for the Mechanism’s continued work to facilitate justice and accountability in Myanmar. Its latest report brings to light the scale of the Myanmar military’s brutal tactics. The reporting of the military’s brutal actions against the people of Myanmar, including indiscriminate targeting and killing of civilians through airstrikes and the large-scale burning of homes, is truly alarming.

Accountability is the only way to end the culture of impunity in Myanmar.

And the UK is committed to supporting this goal – providing £500,000 to the IIMM (Independent Investigative Mechanism on Myanmar), establishing the Myanmar Witness programme, and leading efforts to secure the first ever UN Security Council Resolution on the situation in Myanmar, urging all parties to respect human rights and end violence.

To successfully collect evidence and continue to meet its mandate, the Mechanism relies on the cooperation of all UN and international partners. Without the cooperation of all UN entities, the Mechanism would not be able to undertake vital activities to hold the Myanmar military to account.

High Commissioner, Mr President,

What more can Member States do to facilitate the Mechanism’s collection of evidence and witness statements?

Thank you.

September 13, 2023
PRESS RELEASE : Major BMW EV announcement to take UK auto investment to over £6bn [September 2023]
The press release issued by the Department for Business and Trade on 11 September 2023.

BMW are set to announce a multi-million-pound investment in their Oxford MINI plant, which will take investment in the UK automotive sector to over £6 billion.
BMW set to announce multi-million pound investment in the UK, in latest major vote of confidence in UK Government plans for the car industry.

Announcement brings total investment into the automotive sector to over £6bn in recent years, securing jobs and promoting economic growth.

Other major investments include over £4bn from Tata to build a new gigafactory in the UK, and £1bn from Nissan and AESC to create an EV manufacturing hub in Sunderland.

Ahead of a visit to the MINI plant in Oxford, Business and Trade Secretary Kemi Badenoch has today (11 September) hailed the success of the UK Government’s plan for automotive, as the sector looks ahead to a bright future thanks to over £6 billion of investment over the last two years.

This comes as BMW are set to announce a multi-million pound investment to transform their Oxford plant, securing 4,000 high-quality jobs and strengthening the electric vehicle supply chain. The news follows extensive government engagement and support.

The Government is securing investment from industry by providing support for new plants and upgrades to ensure that the UK automotive industry thrives long into the future.

Last week Stellantis, makers of Vauxhall, Peugeot, Citroen and Fiat, announced the start of electric vehicle production after their £100m investment to make their site in Ellesmere Port their first globally dedicated solely to producing EVs.

Other recent major investments also include a landmark investment of over £4 billion from Tata to build a new gigafactory supplying batteries, £1 billion from Nissan and AESC to create an EV manufacturing hub in Sunderland, and £380 million from Ford to make Halewood their first EV components site in Europe.

Prime Minister Rishi Sunak said:

BMW’s investment is another shining example of how the UK is the best place to build cars of the future.

By backing our car manufacturing industry, we are securing thousands of jobs and growing our economy right across the country.

Business and Trade Secretary Kemi Badenoch said:

Today’s announcement by BMW, coming a week after electric vehicle production started at Stellantis’s site at Ellesmere Port, clearly shows that the Government’s plan for the automotive sector is working.

Working in partnership with the car industry, we are securing high-quality jobs and investment and boosting economic growth.

The total investment in the UK automotive sector is set to reach over £6bn in just the last two years, ensuring our car industry can look ahead to a bright and successful future under this Government.

Chancellor of the Exchequer Jeremy Hunt said:

The UK has a proud history of manufacturing and BMW’s investment is a huge vote of confidence in this country as a global leader in electric vehicles.

And following Stellantis beginning electric vehicle production at Ellesmere Port, just last week, to Tata’s gigafactory, this industry is motoring, creating thousands of jobs and powering our green transition.

There is a longstanding and comprehensive programme of support for the UK automotive sector, including the Advanced Propulsion Centre, the Automotive Transformation Fund, Faraday Battery Challenge and Driving the Electric Revolution.

Just last week, the Government announced that over £50 million of government funding has been awarded to 30 cutting-edge manufacturing projects including rapid-charging motorcycles and self-driving cars, cementing the UK as one of the best locations in the world to manufacture.

The Government is committed to the future of UK manufacturing, maintaining a competitive business environment and reducing the burden on business.

The manufacturing sector plays a vital role in the UK’s economy and the Chancellor has identified advanced manufacturing as one of five key growth sectors.

Background:

A press notice from BMW Group will follow at 11:00 Monday 11 September.

Companies continue to show confidence in the UK, announcing major investments across the country including over £4bn from Tata to build a new gigafactory in the UK; £1 billion from Nissan and AESC to create an EV manufacturing hub in Sunderland; £380m from Ford to make Halewood their first EV components site in Europe; £100m from Stellantis for their site in Ellesmere Port in the production of electric drive units, and £60m from Johnson Matthey in Hertfordshire to develop hydrogen technologies.

We have a longstanding and comprehensive programme of support for the UK automotive sector, including the Advanced Propulsion Centre, Faraday Battery Challenge and Driving the Electric Revolution.

We continue to work with investors through the Automotive Transformation Fund (ATF) to build a globally competitive electric vehicle supply chain in the UK.
September 13, 2023
PRESS RELEASE : Foreign Secretary travels to Israel and the Occupied Palestinian Territories and commits to renewing security ties [September 2023]
The press release issued by the Foreign Office on 11 September 2023.

The Foreign Secretary will travel to Israel and the Occupied Palestinian Territories (OPTs) this week and commit to tackling threats to regional security.
- Foreign Secretary James Cleverly will travel to Israel and the Occupied Palestinian Territories (OPTs) this week (11 to 13 September) and commit to tackling threats to regional security, including from Iran
- in a speech at an international security conference, he will condemn Iran for enabling terrorism in Israel through its support for Hamas and Palestinian Islamic Jihad and reiterate the UK’s support for a two-state solution
- in the OPTs, the Foreign Secretary will visit Jalazone Refugee Camp and see first-hand impact of international support for the UN body providing humanitarian assistance to Palestinian refugees across the Middle East
The Foreign Secretary will condemn Iran for enabling terrorism in Israel and the Occupied Palestinian Territories and commit to strengthening security ties during a visit to the region this week (11 to 13 September).

In his first visit as Foreign Secretary, James Cleverly will give a speech at an international security conference on 12 September focusing on the security challenges facing Israel, the OPTs and the region, and the importance of advancing the two-state solution. He will stress the UK’s support for a viable two-state solution as the only way to bring about security, stability and prosperity for Israelis, Palestinians and the wider region.

He will commit to working with Israel to counter Iran’s destabilising activity and visit Israel’s state of the art ‘Iron Dome’ missile defence system, where the Foreign Secretary will receive a briefing on the range of threats that Israel faces.

In the Occupied Palestinian Territories, he will visit Jalazone Refugee Camp in the West Bank to see first-hand the impact of international support to Palestinian refugees.

Speaking ahead of the trip, Foreign Secretary James Cleverly said:

The UK and Israel work closely together to keep our people safe. I’ll be using my first visit to Israel and the Occupied Palestinian Territories as Foreign Secretary to renew our close security partnership, in the face of unacceptable threats from the Iranian regime.

A two-state solution between Israel and the Occupied Palestinian Territories is the only way to bring about security, stability and prosperity for Israelis, Palestinians and the wider region. I’ll be making clear that all parties must take steps advance this cause.

During the 2-day visit, the Foreign Secretary will meet with senior figures in both Israel and OPTs, including Foreign Minister Eli Cohen, Prime Minister Benjamin Netanyahu and Prime Minister Mohammad Shtayyeh, to encourage dialogue and cooperation to end the cycle of violence.

In Israel he will also pay his respects to the 6 million Jews who perished in the Holocaust by visiting Yad Vashem, Israel’s Holocaust memorial, and laying a wreath at the eternal flame.
September 13, 2023
PRESS RELEASE : Government joins forces with industry to create next generation of hospitality leaders [September 2023]
The press release issued by the Department for Work and Pensions on 11 September 2023.

Jobseekers are now able to access a new Government-backed employment programme designed to fill vacancies in the hospitality sector.
- New employment scheme launched in Liverpool to upskill and match jobseekers with hospitality roles
- Jobseekers offered fast-tracked training and work experience to earn an industry recognised ‘Hospitality Skills Passport’
- Pilot scheme set to be rolled out across other cities in the UK to address labour shortages with over 120,000 vacancies currently in the sector.
The pilot scheme, set to launch in Liverpool before being rolled out to other major cities over the coming months, will see benefit claimants gain an industry recognised accreditation, endorsed by industry leaders including Greene King, Marriot Hotels and ACC Liverpool.

The Hospitality Sector-based Work Academy Programme (SWAP) combines a unique programme of learning launched by the Department for Work and Pensions (DWP) in collaboration with UKHospitality.

The scheme is designed to provide tailored training for jobseekers from industry experts, allowing them to move into a career in hospitality, while boosting workforce participation in the sector and helping to grow the economy.

Benefit claimants will complete qualifications and accredited training in areas such as health and safety, food safety, licensing, and conflict resolution to add to their Hospitality Skills Passport – a digital pass which can be added to CVs to show employers jobseekers have the skillset required by the sector. They will also receive training in confidence and assertiveness to build personal skills and strength.

The programme will culminate with a guaranteed job interview for all participants, helping jobseekers with a valuable progression opportunity to apply their new skills and a pathway to apprenticeships.

Minister for Employment, Guy Opperman MP said:

This innovative collaboration between DWP and UKHospitality is a national first and underscores our commitment to work with industry to address challenges, fill vacancies and grow the economy.

The standardised and industry backed Hospitality Skills Passport will help bridge the gap for those looking for work in the hospitality sector, helping jobseekers to boost their skills and kickstart their careers.

Through practical, hands-on learning, jobseekers will reinforce their newfound skills with an opportunity to contribute to the industry from day one by completing work experience placements with some of the industry’s largest employers.

Following the pilot launch in Liverpool plans are in place to expand to other cities across England and Wales including London, Manchester and Birmingham from October.

Kate Nicholls, Chief Executive, UKHospitality said:

Hospitality is a fantastic sector that offers a diverse variety of career opportunities, which is why it’s so well suited to helping people back into work. We’re delighted to be partnering with the Government to help run this exciting programme, which we hope can be a real positive for both jobseekers and businesses.

Chris Gamm, CEO of Springboard, said:

We’re delighted to be involved with the trial, giving unemployed people the skills to launch their hospitality careers, helping them find exciting jobs with engaged local businesses and showcasing what fantastic development opportunities our industry offers through training and apprenticeships.

For more information and details of how to enrol on the Hospitality SWAP, Universal Credit claimants should speak with their Work Coach.
September 13, 2023
PRESS RELEASE : £80 million boost for coastal communities and green shipping as London International Shipping Week gets underway [September 2023]
The press release issued by the Department for Transport on 11 September 2023.

Winners of the Zero Emission Vessel and Infrastructure fund will generate maritime jobs and develop new, clean technologies.
- government backs innovative companies in coastal communities from Orkney to Portsmouth with £80 million of R&D funding to boost clean tech and create jobs
- comes at the start of London International Shipping Week, focusing on clean maritime and artificial intelligence to grow the UK’s maritime economy
- part of the Prime Minister’s plan to grow the economy, creating better-paid jobs and opportunity right across the UK
Coastal communities across the country are set to benefit from over £80 million of government funding as the winners of the Zero Emission Vessel and Infrastructure fund (ZEVI) are announced – supporting economic growth and boosting the UK’s decarbonisation efforts.

List of ZEVI competition winners.

Announced at the start of London International Shipping Week (LISW) – bringing together the world leaders in the maritime sector – the projects showcase the benefits maritime technology can bring to communities from Orkney to Portsmouth.

Whether it’s Artemis Technologies which is demonstrating inter-island electric ferries, helping boost regional connectivity and economic opportunity, or Tidal Transit Ltd, which is electrifying a crew transfer vessel for offshore wind farms and enabling greener sustainable energy, today’s winners have a crucial role to play in cleaning up the sector’s reliance on fossil fuels.

Transport Secretary Mark Harper said:

London International Shipping Week is the perfect time to showcase the work we’re doing to generate maritime jobs across the country and develop new, clean technologies.

Today’s winners are at the cutting edge of the nation’s maritime industry – a crucial part of this government’s plan to grow the economy, creating better-paid jobs and opportunity right across the UK.

Maritime Minister Baroness Vere said:

The maritime sector’s drive towards a cleaner future goes hand in hand with the government’s plan to grow the economy and create new, well-paid jobs all over the UK.

As a seafaring nation, it is in our national character to push nautical limits and this funding will help to ensure the UK maintains its position at the leading edge of maritime innovation. I look forward to seeing all the industry has to offer over the course of London International Shipping Week.

London International Shipping Week, which runs from 11 September to 15 September, is one of the most important international shipping and maritime events in the world.

Having grown consistently – and rapidly – since its conception in September 2013, this year’s event is the 10th anniversary and will explore the future of maritime with decarbonisation and the influx of artificial intelligence.

The Transport Secretary will view one of Artemis Technologies’ clean vessels on the River Thames this morning, before chairing a roundtable at No. 10 Downing Street with senior representatives from maritime, technology and academia on artificial intelligence in maritime and the opportunities it presents for economic growth.

The Maritime Minister will also be attending events throughout the week.

Sarah Treseder, CEO of UK Chamber of Shipping, said:

The number of applications meant hard decisions had to be made but shows the strong desire to reduce emissions across the sector and the successful projects will be a crucial element in the journey to net zero.

Published today, our Value of Shipping report shows that 650,000 jobs are dependent on shipping with every job in shipping supporting 10 more in the wider economy. This welcome funding is a chance to build on this strong foundation and help shipping deliver further jobs, innovation and economic growth in all parts of the UK.

Maritime UK CEO, Chris Shirling-Rooke, said:

Britain has always been an island of maritime pioneers. The winners of today’s fund and the global leadership on show during London International Shipping Week shows this tradition will continue long into the future.

But while London hosts maritime leaders across the world, our coastal communities play an equally significant part in this story. They are the UK’s gateways to the world and through maritime they can have a high-tech and highly skilled future as engine rooms of our green industrial revolution.

The industry is working closer than ever with government to decarbonise, drive economic growth and ensure we remain the world’s natural home for maritime.

The multi-million-pound ZEVI fund, launched in February, is designed to take tech from the factory to the sea by supporting projects that have a long-term impact in reducing carbon emissions.

Successful projects must show they could use this money to work with major UK ports and operators to launch a zero-emission vessel by 2025 at the latest.

One project on the south coast of England, the Zero Emission Network of Workboats, claims their work will deliver savings of 1,000 tonnes of carbon dioxide (CO₂) over the span of the 3-year demonstration. That’s a saving equivalent to 113,000km driven by an HGV – saving millions of tonnes of CO₂ if implemented around the world.

Hundreds of jobs are being supported thanks to ZEVI with the resulting R&D helping the sector shift its energy source away from fossil fuels.

Portsmouth International Port has predicted the funding it’s receiving will help to deliver its 20-year plan and grow its employment from just under 6,000 to just over 40,000 while Collins River Enterprises has forecasted a boost in job numbers by up to 800 thanks to today’s funding.

Mike Sellers, director of Portsmouth International Port, said:

As a port owned by the people of Portsmouth, we have a duty to ensure that we grow sustainably and for the benefit of our local communities.

I’m proud of our ambitious sustainability goals and this project will see us be able to not only provide shore power for ships on 3 of our berths but also provide power for the hybrid Brittany Ferries ships coming in 2025.

We’re looking forward to working with the Department for Transport and Innovate UK to realise the full potential of this project for the UK and the shipping industry.

I’d like to thank my team at the port and our partners in the Sea Change consortium for all their hard work in getting this bid over the line. This is a ground-breaking project that will not only benefit the city and the wider region but also the planet, by slashing carbon emissions, improving air quality and providing new high-skilled jobs.

Christophe Mathieu, CEO of Brittany Ferries, said:

The arrival of 2 LNG-hybrid ships in spring 2025, will be the climax of the biggest fleet renewal programme in our history.

Upon arrival, the vessels will be good neighbours to those who live and work around Portsmouth, the busiest port in our network. Furthermore, thanks to ZEVI funding, their plug-in potential will be unlocked from day one and I can’t think of a better place to celebrate this fantastic news than the start of LISW.

The ZEVI fund is part of the UK SHORE programme, launched in March 2022 with £206 million in funding. UK SHORE aims to tackle shipping emissions and advance the UK towards a sustainable shipping future.

Secretary of State for Northern Ireland Chris Heaton-Harris said:

As we look forward to the innovation which will be showcased at this week’s Northern Ireland Investment Summit, I am delighted to see innovative Belfast company Artemis Technologies receive this funding.

I am a huge admirer of their ambition to decarbonise maritime transport as they build on Belfast’s maritime heritage and world-leading expertise in advanced manufacturing and renewable energy.

Their project ‘Electric Orkney’ aims to decarbonise inter-island transport through the commissioning of two Artemis 100% electric foiling vessels and charging infrastructure.

They are one of the global titans in developing sustainable maritime solutions and this project will play a crucial role in the UK Government’s net-zero commitments.

UK Government Minister for Scotland John Lamont said:

The UK has a proud maritime history and it’s great to see Scotland at the heart of so many of these innovative projects. The £49.6 million of UK Government funding will benefit communities in Orkney – with 2 new electric ferries – and Aberdeen through the introduction of low carbon technology to its maritime sector. The environment, connectivity and economic growth will all benefit from this substantial investment.
September 13, 2023