The agreement follows the announcement of a number of other collaboration agreements at the UK-China Fourth Annual Energy Dialogue including the first ever Chinese investment in the UK offshore wind market as well as the UK China joint civil nuclear research and development centre to be opened in the UK.
A statement from the Government read: “Both the UK and China are determined to find the right solutions to deliver clean, secure, and affordable energy for all. The agreement will support our efforts to tackle climate change and provide energy security for decades to come, helping to reduce energy bills for hardworking businesses and families as well as growing the low carbon economy.
“The UK companies in the low carbon sector will gain more opportunities to access the largest energy market in the world; enabling them to share expertise in technology and innovation to secure new business. It is expected to encourage more investment in clean technologies, which in turn could help to reduce their costs in both countries.”
The deal hopes to strengthen the UK’s position as the partner of choice for China in low carbon energy and to pave the way for effective energy relations between the two countries.
The China National Expert Committee on Climate Change and the UK’s Committee on Climate Change have also agreed to establish a new process of joint work on climate change risk assessment, recognising the importance of risk assessment for informing climate change policy.