The National Wealth Fund has helped unlock more than £68 billion of public and private investment across the UK, according to its latest Impact Report, marking significant progress towards its long-term growth, jobs and net-zero ambitions.
The Fund revealed it has now committed more than £10.9 billion across 90 investments, alongside a £36.6 billion term loan for the Sizewell C nuclear project, helping to mobilise over £68 billion of finance into key sectors of the UK economy.
The second annual Impact Report highlights the Fund's growing influence in supporting regional economic development, strengthening strategic industries and accelerating the transition to clean energy. Collectively, its investments are expected to create or support more than 83,000 jobs and help avoid 117 million tonnes of CO₂e emissions over their lifetime.
A central theme of the report is the importance of place-based investment. The National Wealth Fund has significantly expanded its strategic partnerships programme, embedding investment expertise within mayoral authorities and city regions to help unlock local growth opportunities.
During the past year, new partnerships were announced with South Yorkshire, Liverpool, the North East and Cardiff, building on existing arrangements and extending the programme's reach to around a quarter of the UK population.
The report notes that long-term economic growth depends on a combination of strong infrastructure, skilled workforces, thriving local businesses and effective collaboration between government, investors and communities.
The report, National Wealth Fund: Investing across the nations and regions of the UK, outlines progress against six core ambitions:
Accelerating investment across the UK
The Fund expanded its regional partnerships while backing projects ranging from major energy network upgrades in Scotland to critical minerals development in south-west England.
Supporting clean energy growth
More than £6.3 billion has been committed to clean growth projects. These investments are expected to create or safeguard over 47,000 jobs while avoiding more than 75 million tonnes of CO₂e emissions and strengthening UK energy security.
Building strategic national capabilities
The Fund made its first investments in sectors including defence, artificial intelligence and advanced nuclear technologies, while also supporting battery and critical mineral supply chains.
Delivering on investment ambitions
Its £10.9 billion investment programme, combined with the £36.6 billion Sizewell C loan, has already helped mobilise more than two-thirds of its five-year target of generating £100 billion of investment.
Advancing net-zero goals
Current investments are projected to avoid 117.2 million tonnes of CO₂e, equating to around 23% of the Fund's 2050 target of 500 million tonnes.
Creating high-quality jobs
The expected creation or support of more than 83,000 jobs represents approximately 41% of the Fund's long-term target of 200,000 jobs by 2050.
Oliver Holbourn, CEO of the National Wealth Fund, said:
“This report tells the story of the Fund’s role to date in unlocking the UK’s future through bolstering growth, resilience and security. By understanding places and backing their strengths and unique opportunities – from critical minerals extraction in Cornwall and Devon, to wind farms in the Orkney Islands – we are helping to create the conditions for lasting opportunity and growth across the nations and regions of the UK. And we are just getting started – there is much more to come from your National Wealth Fund.”
The latest figures demonstrate the Fund's increasing role in driving investment into infrastructure, clean energy and strategic industries, while supporting the Government's wider agenda for economic growth and regional prosperity.
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