Miliband launches £90m fund to build green industrial markets abroad

Foreign Secretary Ed Miliband used a COP31 event in Antalya on 11 November 2026 to announce new UK funding for green industrialisation in developing countries, and to set out how the UK's own green economy is performing.

Miliband said the UK green economy is growing three times faster than the economy as a whole and now supports more than one million workers. He pointed to offshore wind, power network construction, carbon capture and small modular reactors as areas where it is emerging. He acknowledged the UK had not "got everything right", but credited the stable framework of climate commitments offered to private sector firms for the growth.

He also cited a forecast of nearly 10 million green jobs globally by 2030.

Miliband said many good plans in emerging markets are still 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, and called for governments, industry and finance to work together to turn national plans into investable projects.

He cited existing work under the Global Clean Power Alliance Finance Mission, where a partnership with Brazil has supported eight industrial decarbonisation and hydrogen projects towards final investment decisions. Through the Industrial Transition Investment Platform, the UK is working with Indonesia on a pipeline of clean industrial projects.

Miliband said the shift must work for workers, including a fair deal for those in fossil-fuel industries. He stressed the quality of jobs in new clean energy sectors, the role of trade unions and high workplace standards. He said workers he had met in Britain, from the nuclear, offshore wind and solar industries, spoke of their pride in the work.