Miliband launches £90m fund for green industry in developing countries

The Foreign Secretary, Ed Miliband, has announced a Green Industrial Demand Accelerator backed with £90 million, aimed at helping create green industrial markets in developing countries. He made the announcement in a speech at the COP31 climate summit in Antalya on 11 November 2026.

A further £45 million will go towards piloting new technologies to help keep the 1.5 degree warming limit within reach.

Miliband said green industrialisation could generate nearly 10 million jobs globally by 2030. In the UK, he pointed to offshore wind, power networks, carbon capture and small modular reactors as areas where the green economy is emerging.

He said that economy is growing three times faster than the economy as a whole and now supports more than one million workers. He credited the stable framework of climate commitments offered to the private sector, while acknowledging that the government had not got everything right.

Miliband said too many good plans are waiting for finance. He said one priority of the UK's G20 Presidency next year is to direct more capital to developing and emerging economies, with governments, industry and finance working together to turn national plans into investable projects.

He cited two existing initiatives:

The Foreign Secretary said the shift must work for workers, including a fair deal for those in fossil-fuel industries. He also stressed job quality in new clean-energy sectors, the role of trade unions and high workplace standards.

He said he had spoken to workers in Britain in the nuclear, offshore wind and solar industries who take pride in their work.