Gautam Adani meets UK PM Boris Johnson, pledges $70 billion towards 'energy transition'

Adani Group Chairman Gautam Adani met UK Prime Minister Boris Johnson at Global Investment Summit on Tuesday. After meeting, Indian business tycoon anunced that Adani Group will commit $70 billion to energy transition via solar, wind and water in its bid to commit to global action against climate change.

Gautam Adani also thanked UK Government and Department for International Trade for opportunity. Taking to Twitter, he shared a photo of his visit to  Global Investment Summit in London. In picture, Adani Group chairman was seen holding a discussion with Boris Johnson. 

According to an official release of Adani Group, conglomerate has pledged $50-70 billion in renewable energy value chain over next decade. group has committed 70% of its planned capex to energy transition until 2030. 

"Green policies and climate action t based on equitable growth will struggle in long run. We are putting money where our mouth is," Gautam Adani was quoted as saying in a statement issued by Adani Group. He added that portfolio companies of group are leading way with investment plans.

Global Investment Summit

Global Investment Summit was held in London on October 19 to encour foreign investment in Britain. According to an official release of UK Government, investors pledged almost £10 billion at summit. statement from UK PMO read, "At least 30,000 new jobs will be created around UK thanks to £9.7 billion of new foreign investment."

Nearly 18 new deals were signed, including one signed by Adani Group to support green growth. se include sectors such as wind and hydrogen energy, sustainable homes and carbon capture and stor, cementing UK’s climate leadership for COP26 and beyond, UK Government said.

After summit,  UK PM said, " world’s top investors have seen massive potential in UK for growth and invation in industries of future. fantastic £9.7 billion of new investment we have secured today will power our ecomic recovery, creating thousands of jobs and helping to level up across country."

He added, "This is just start. We will see new partnerships for green growth forged at today’s Global Investment Summit, as we look ahead to COP26 and beyond."