UK launches green tech fund – with controversial funding source
22 Oct 2026
11:16
The UK is launching a new clean energy fund backed by North Sea oil and gas revenue.
The fund, launched with an initial £2bn commitment, joins a list of vehicles channelling fossil fuel profits into clean tech. But the gas field approval announced alongside it has drawn criticism.
“It will not, in itself, bring down energy bills,” Sarah Mackintosh, director of industry group Cleantech for UK, tells Impact Loop.
We spoke to the UK treasury to find out more.
The fund, launched with an initial £2bn commitment, joins a list of vehicles channelling fossil fuel profits into clean tech. But the gas field approval announced alongside it has drawn criticism.
“It will not, in itself, bring down energy bills,” Sarah Mackintosh, director of industry group Cleantech for UK, tells Impact Loop.
We spoke to the UK treasury to find out more.