UK, Qatar Announce £1 Billion Climate Tech Investment Partnership

The United Kingdom and Qatar have announced a landmark £1 billion ($1.27 billion) partnership focused on investing in climate technologies, marking a key element of Prime Minister Keir Starmer’s drive to stimulate economic growth, Bloomberg reports.

The investment, confirmed by 10 Downing Street following a state visit by the Emir of Qatar, will be channeled into early-stage companies in both the UK and Qatar specializing in energy efficiency, carbon management, and renewable energy sources. The announcement came during the Emir’s two-day visit to the UK.

Prime Minister Starmer emphasized the significance of the partnership, stating it represents “a significant step in our ambition to become a clean energy superpower.” He highlighted the initiative as a direct response to the government’s commitment to prioritize economic growth, emphasizing the strengthening of international partnerships to bolster UK industry.

Beyond the climate initiative, the UK and Qatar are poised to sign a memorandum of understanding (MOU) on financial services on Wednesday. Chancellor Rachel Reeves and City minister Tulip Siddiq will host a Qatari delegation at No. 11 Downing Street for the signing ceremony.