AQW 14804/22-27

Ms Kate Nicholl
Alliance Party
South Belfast

Tabled Date: 11/09/2024
Answered On Date: 20/09/2024
Priority Written: No

Question:
To ask the Minister for the Economy whether he will create a green investment unit for Invest NI to look at sustainability across all Invest NI projects and to attract green economy investments.

Answer:

My Department’s Low Carbon/ Net Zero Sectoral Action plan sets out objectives including promoting the Green Economy in the North of Ireland and supporting North of Ireland businesses to optimise strategic opportunities emerging from the global drive to net zero. Invest NI is a key delivery partner in the implementation of this action plan.

Invest NI currently has two teams, one focussed on green investment, the other on sustainability:

The Green Economy Development Team focuses on identifying and promoting diversification opportunities into new and emerging green markets/supply chains; positioning the North’s capability on the global stage to support the Invest NI's trade and investment functions; and advising on strategic projects.

The Energy Resource and Efficiency Team offers a suite of support including technical advice, sustainability planning and support for capital investments. This enables businesses to achieve cost, carbon, material and energy savings.

In response to the Independent Review of Invest Northern Ireland, my Department and Invest NI have set several strategic actions to further strengthen focus on the Green Economy. This includes creating a dedicated Green Economy Division and embedding Net Zero and Green Economy targets into Invest NI’s Business Plan, governance, and delivery models.