UK becomes ‘Europe’s second most popular’ area for cleantech investments

London has been named as Europe’s leading city for cleantech projects in 2020, according to new research

Pathway to COP26 report

The UK has improved its green investment performance as it ranked second in Europe for cleantech projects, a new analysis by EY finds.

The report which measures the countries’ performance for Foreign Direct Investment (FDI) suggests the UK attracted 59 clean technology projects last year.

That translates to 17.1% of all such European projects, a share that is lower only than Germany’s 67 projects representing 19.4% of the European cleantech market.

Cleantech projects are deemed to be those which involved investment in energy transition, biodiversity and sustainability.

The authors of the report also say that London was Europe‘s biggest city for cleantech project numbers last year, launching 11 projects.

Alison Kay, EY UK&I Managing Partner for Client Service, said: “The UK is in an encouraging place on green investment, with cleantech project numbers keeping pace with the UK’s overall FDI performance.

“The UK is also performing better on cleantech than perceptions might imply – our regular UK Attractiveness Survey has shown that while investor support for UK cleantech has grown significantly in recent years, Europe is still more likely to be perceived as a leader in this area.

“With scope to improve investor perceptions, the UK has a solid foundation from which to accelerate its cleantech performance.”

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