International trade will drive Britain’s green transition with foreign investment into the UK key to helping the country “level up” jobs and develop new technologies, trade minister Anne-Marie Trevelyan said on Wednesday.
While international trade is not the main focus of the discussions at next week’s Cop26 environmental summit in Glasgow, Ms Trevelyan said the Department of International Trade is helping to build Britain’s green industrial base and create new innovations that can be exported around the world.
Her comments came as Britain's Queen Elizabeth II pulled out of hosting a major reception for world leaders at the climate change event, amid concerns about her health.
“DIT Is helping to speed the green transition by using our independent trade policy to make green trade freer — liberalising trade and environmental goods and services — and fairer, by making use of our trade levers to tackle those environmentally harmful market distortions,” Ms Trevelyan said, at an international trade committee meeting at the House of Commons.
Britain secured almost £10 billion ($13.8bn) in fresh foreign capital for its green economy ahead of the Global Investment Summit (GIS) last week.
Sizeable investments included a £6bn commitment from electric utility company Iberdrola, as it plans to invest through Scottish Power in East Anglia Hub offshore wind farms, creating 7,000 jobs.
The investment was one of 18 new trade and investment deals supporting green growth and creating 18,000 jobs at London's GIS.
The capital boost came in addition to the £10bn secured through the Partnership for the Future agreement with the UAE, which will see funds invested in Britain’s technology, infrastructure and energy transition, as well as joint pledges on climate action.
Under the UAE-UK Sovereign Investment Partnership, made with the UK Office for Investment, Mubadala Investment Company committed £9bn for the three sectors, in addition to Mubadala’s £800 million investment and the British government’s £200m for the UK life sciences sector, when the partnership was established in March.
Ms Trevelyan said Britain’s climate change ambitions will be delivered in large part through private sector solutions, “which will create considerable new trade and investment opportunities within the global green economy, which UK companies will be well placed to leverage”.
She pointed to “ground-breaking” new trade deals with Japan, Australia and New Zealand, in which clean growth and the transition to a low carbon economy were key.
“DIT puts clean growth at the core of our central functions; trade policy, export promotion and attracting foreign direct investment. So these functions can play an important role in advancing the net-zero agenda,” she said.
Ms Trevelyan said Britain aimed to lead by example, to help developing countries and those unsure of how to get started on the climate change transition.
Earlier this week, UN Secretary General Antonio Guterres said all major economies must do the “maximum” they can to avert the climate crisis.
Mr Guterres said a new report from the UN Environment Programme, which showed the latest plans and pledges by countries to curb climate emissions by 2030 put the world on track for a “catastrophic” 2.7°C of warming, was a “thundering wake-up call”.
Ms Trevelyan said next week’s Cop26 event will move the conversation on from the Paris Agreement of 2016 to limit the increase in global temperature to 1.5°C.
“If the Paris Cop was the why, and everyone signed up to why we've got to do this, Glasgow is about how. So that's the gritty, practical, what have you actually got to do,” she said.
“You've made a commitment, but how are you going to do that? I have to buy different vehicles, I have to encourage my workforce to walk to work, I have to think about my supply chain issues, which is hard. But there is a real enthusiasm, and we've been leading in supporting and giving tools to help businesses think about that.”
UK Prime Minister Boris Johnson has been accused of undermining the UK's Cop presidency by “saying one thing and doing another”.
At Prime Minister’s Questions on Wednesday, the opposition’s energy spokesman Ed Miliband criticised a lack of commitment to the climate in trade deals, and “telling others to abandon fossil fuels” while not doing so as a government.
On the Cop26 summit, Mr Johnson highlighted his talks with world leaders ahead of the summit, adding: “It’s still too early to say whether it will succeed. It’s in the balance.”
Mr Miliband countered: “The thing the prime minister has underestimated throughout these last two years is Cop26 is not a glorified photo opportunity — it’s a fragile, complex negotiation.
“The problem is the prime minister’s 'boosterism' won’t cut carbon emissions in half; photo opportunities won’t cut carbon emissions in half.
“Can I just say to the prime minister: in these final days before Cop26 we need more than warm words.
“Above all, Glasgow has got to be a summit of climate delivery, not climate delay.”
Separately, Scotland’s First Minister Nicola Sturgeon unveiled almost £500 million of further funding to help in the fight against Covid-19 — as she warned that the Cop26 summit “inevitably” poses a risk of increased transmission of the virus.
With delegates from across the world now starting to arrive in Scotland ahead of the UN climate summit, Ms Sturgeon said the coronavirus situation remained “fragile”.
She stressed mitigations were being put in place around the summit — but that no new restrictions across Scotland were currently necessary.
Ms Sturgeon said hosting the global summit in Glasgow “would always have been a significant challenge”, but the pandemic made it “even more challenging”.
A list of the animal rescue organisations in the UAE
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
The%20specs
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Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
UAE currency: the story behind the money in your pockets
SPECS
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MATCH INFO
Barcelona 4 (Suarez 27', Vidal 32', Dembele 35', Messi 78')
Sevilla 0
Red cards: Ronald Araujo, Ousmane Dembele (Barcelona)
Men’s singles
Group A: Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)
Women’s Singles
Group A: Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Anna and the Apocalypse
Director: John McPhail
Starring: Ella Hunt, Malcolm Cumming, Mark Benton
Three stars
The years Ramadan fell in May
UAE currency: the story behind the money in your pockets
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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About Krews
Founder: Ahmed Al Qubaisi
Based: Abu Dhabi
Founded: January 2019
Number of employees: 10
Sector: Technology/Social media
Funding to date: Estimated $300,000 from Hub71 in-kind support
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Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
