Qatar is set to invest £1 billion ($1.3 billion) into climate technology initiatives in the United Kingdom, as engineering giant Rolls-Royce stands to benefit from this strategic injection of funds. This was confirmed by the British government on Wednesday, coinciding with the state visit of Qatar’s emir, Sheikh Tamim bin Hamad Al Thani.

The visit marks an effort by the UK to deepen ties with the prosperous Gulf state. Prime Minister Keir Starmer, who will meet the emir, aims to secure concrete advantages for the UK in terms of security and economy. The investment promises to generate thousands of jobs and to spawn climate technology hubs across both nations to expedite advancements in eco-friendly technologies, according to the government.

The collaboration includes investments in programmes by Rolls-Royce to boost energy efficiency, develop new sustainable fuels, lower carbon emissions, and support startups concentrating on energy efficiency, carbon management, and green power. Rolls-Royce CEO Tufan Erginbilgic expressed enthusiasm about Qatar’s partnership, viewing it as pivotal for advancing lower carbon technologies. This initiative aligns with Starmer’s broader economic strategy, which seeks to leverage wealthy investors like Qatar to drive infrastructure and energy projects.

(With inputs from agencies.)