AQW 16356/17-22

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 15/03/2021
Answered On Date: 19/04/2021
Priority Written: No

Question:
To ask the Minister for the Economy to detail her plans to incentivise businesses to invest in the green economy.

Answer:

‘Building a Greener Economy’ is a central pillar of my Economic Recovery Action Plan. I have identified actions to be taken forward that will support the clean energy transition and economic recovery. Securing £20million for investment in energy efficiency, green innovation and the development of the hydrogen and circular economy demonstrates my commitment to ensuring our recovery is sustainable, environmentally responsible and tackles climate change.

I have launched a policy options consultation for a new NI Energy Strategy. It will consider how future energy policies can help to support the growth of a green economy.

I would encourage local businesses to consider the investment potential within the clean energy sector. Supporting businesses that are willing and able to develop and adopt innovative, low carbon technologies and grow our green workforce as a result, is a priority for me. Responding to the consultation will help to inform how policy can support businesses to take advantage of these new opportunities.

My Department is developing a bold and ambitious new vision, for a decade of innovation, for the Northern Ireland economy. The ambition will reflect the scale of the challenges ahead, and the opportunity we have, in response to the Covid-19 pandemic, Brexit and the climate crisis, to make a generational change. To meet our ambition we will focus on areas in which we can maximise our advantage including opportunities within the green economy.

Furthermore, my officials are currently developing a strategic framework which will provide a first step in setting out a clear vision for Circular Economy in Northern Ireland. The framework will encourage innovation and resource efficiency, help increase productivity, drive economic growth and it will help local businesses become resilient and competitive in the global market.