William James

LONDON (Reuters – Britain announced that it attracted more than 10 billion pounds ($13.72 Billion) in global investors to finance its green renewal agenda. It hosted an international investment summit, which included 200 of the most prominent financiers and executives around the world.

This summit is Britain’s largest post-Brexit push to attract investors. It even leverages the soft power and drinks at Queen Elizabeth’s castle as the country seeks partners and cash to compete in international green technology markets.

Gerry Grimstone from the trade department said, “We’re rolling out the red carpet for investors,” ahead of opening the summit.

British Government announced private investment deals in the amount of 9.7 Billion Pounds. This includes 6 billion Pounds in offshore wind from Iberdrola.

Prime Minister Boris Johnson will open the summit in central London on Tuesday, speaking to financiers such as JPMorgan Chase & Co (NYSE:) Chief Executive Jamie Dimon, Blackrock (NYSE:) CEO Larry Fink and bosses from GlaxoSmithKline (NYSE:) and Darktrace.

France held similar events in recent years. But Britain feels it holds a superior advantage: attendees of the summit will travel to Windsor Castle afterward for a reception where the Queen, along with other royals, will attend.

This event occurs at a moment when Britain’s green credentials have been in the limelight. It will be held two weeks prior to the U.N COP26 climate summit. Johnson will attempt to negotiate a complicated international agreement to halt rising global temperatures.

In a last-year plan, the government outlined its plans to prioritise climate and green technologies in Britain’s economic recovery following the COVID-19 pandemic.

Johnson, who was elected on the promise of reinvigorating post-industrial areas in the country and creating better-paid, more skilled jobs, has made this a central part of his political agenda.

This investment is on top of the 5.85 Billion pounds government announced last week that was agreed to since Johnson’s November plan.

($1 = 0.7290 pounds)