Qatar to Invest $1.3 Billion in UK Climate Tech

Qatar has announced a significant investment of 1 billion pounds ($1.3 billion) in climate technology in the United Kingdom. This move is expected to bolster the UK's efforts in energy transition and climate-friendly technology development.

The investment, announced during a state visit by Qatar's emir, Sheikh Tamim bin Hamad Al Thani, is set to create thousands of jobs and establish climate technology hubs in both countries. Rolls-Royce, the British engineering giant, is among the companies set to benefit from this investment, particularly in its energy efficiency and sustainable fuel programs.

"Enabling the energy transition through lower carbon technologies is a key part of our strategy," said Rolls-Royce CEO Tufan Erginbilgic. "We are delighted to welcome Qatar as a strategic partner, who will support the growth of these technologies."

The UK government views this investment as a step towards deepening ties with Qatar, a wealthy Gulf state. Prime Minister Keir Starmer hopes to secure "tangible benefits" for the country on security and the economy through this visit.

Qatar's investment in the UK is not its first. The Qatar Investment Authority already owns significant assets in Britain, including the Canary Wharf business district, the Shard skyscraper, and stakes in Barclays and Heathrow Airport.