We are the UK government’s principal investor and policy bank charged with deploying capital at scale in the projects and companies that support two strategic objectives: regional and local economic growth and tackling climate change. We interpret these objectives in line with the government’s growth and clean energy missions.
We achieve our mission against a triple bottom line:
Deliver the growth and clean energy missions – acting in partnership with the private sector, and national, devolved and local governments, we invest in capital intensive projects and companies to accelerate the Industrial Strategy, Infrastructure Strategy and Clean Power 2030 Action Plan
Crowd in significant private capital over time – we support sectors to develop, targeting market weaknesses to catalyse private investment and unlocking investments that otherwise would not have gone ahead
Generate a return for the taxpayer– we utilise an increased appetite for risk to achieve our mission, whilst ensuring our investments generate a portfolio-level financial return
Our shareholder, HM Treasury, has asked us to prioritise investment in four sectors: clean energy, advanced manufacturing, digital & technologies and transport. We may also have a wider role in life sciences, creative industries, water, waste/circular economy and natural capital.
We will commit at least £5.8bn in five clean energy and advanced manufacturing sub-sectors over this parliament: CCUS, gigafactories and electric vehicle supply chains, hydrogen, steel, and ports & their supply chains.
Our activity in sectors such as advanced manufacturing and digital and technologies can also have an active role in supporting dual-use technologies to support the UK’s defence and security. We will explore our role further in partnership with government as we develop our strategy.
National Wealth Fund Statement of Strategic Priorities
On 19 March 2025 the Government published our statement of strategic priorities, confirming our role in financing the capital investment needed to deliver the government’s policy agenda. We will use this to work up our next strategic plan.