Eugene Heaney, Green Economy Business Development Manager
How Invest NI is helping firms seize opportunities in the green economy
This article was originally published in the June/July 2025 edition of Plant & Civil Engineer.
The green economy presents a huge opportunity for Northern Ireland. According to Oxford Economics, it’s a global industry that could generate $10.3 trillion by 2050.
Northern Ireland’s firms are well-placed to become global leaders in the green economy. From large multinationals to micro and SMEs, many are already reducing their carbon footprints while positioning themselves in emerging green markets.
With a strong foundation in manufacturing, innovation, and green technology, the region is ready to anchor value in the green economy.
This is more than a sector – it’s a global opportunity that touches every part of the economy.
Empowering businesses to focus on green
Invest NI’s 2024-2027 Business Strategy and the Department for the Economy’s economic vision place net zero and renewable energy at the heart of Northern Ireland’s future economic growth.
To support this mission, Invest NI focuses on two key areas – helping firms to go green and enabling them to access global green markets, and raising awareness of opportunities to help businesses position themselves globally.
Invest NI provides a comprehensive range of resources to help businesses at every stage of their sustainability journey. From offering technical advice and developing tailored sustainability plans to providing funding for energy-efficient equipment, Invest NI empowers companies to reduce their carbon footprints and enhance their competitiveness.
Its foreign direct investment (FDI) and trade teams connect local companies with international partners, helping them diversify into new sectors, access alternative funding streams, and meet the growing demand for green products and services.
With this dual focus on sustainability and market positioning, Invest NI ensures that local businesses are prepared to adapt to a net zero future and primed to seize the immense opportunities it brings. This approach aims to solidify Northern Ireland’s reputation as a global hub for green innovation and economic growth.
Why green matters to Northern Ireland
Northern Ireland faces challenges in reducing greenhouse gas emissions and improving productivity.
NI’s Climate Change Act mandates net zero by 2050. To achieve this target, addressing emissions locally is not enough – what matters is the global cumulative impact, requiring coordinated efforts across industries and governments.
While 43.5% of electricity already comes from renewables, Northern Ireland’s overall carbon reductions remain below UK averages. Since 1990, emissions have only fallen by 26.4%, compared to 49.9% across the UK.
There is a growing pressure on businesses to adopt sustainability practices, driven by regulations, customer expectations, and financing requirements.
Large firms are increasingly focusing on Scope 3 supply chain emissions, passing down obligations to their suppliers. For Northern Ireland’s SME landscape, this push makes sustainability more critical than ever.
Decarbonisation and addressing Scope 3 supply chain emissions are now crucial factors in business. Larger firms rely heavily on their supply chains to meet these goals, making it essential for businesses of all sizes to adapt. Adopting sustainability practices isn’t just good for the environment – it’s critical for staying competitive. Think of it as a passport for doing business.
There are two key reasons why businesses must act now:
- Competitiveness – Sustainability makes businesses more attractive as partners and supply chain operators.
- Opportunity – For the world to decarbonise, there is a need for technologies and services that support the journey to net zero. Renewable energy, green fuels, sustainable water management, and low-carbon retrofitting are just some of the areas ripe for development.
By aligning with the global drive toward net zero, Northern Ireland firms can be leaders in sustainable innovation, accessing new markets and unlocking significant economic opportunities.
Driving change through innovative initiatives
Invest NI is driving several initiatives to accelerate Northern Ireland’s green economy and net zero goals.
The Industrial Decarbonisation for Northern Ireland (IDNI) initiative brought together over 220 firms, councils, and government bodies to create a comprehensive plan for reducing industrial carbon emissions.
With practical tools like a sustainability toolkit, a knowledge-sharing platform, and real-world examples, the initiative established how businesses can reduce energy costs, improve productivity, and access green investment opportunities.
IDNI has helped companies identify £28 million in potential energy savings. If its recommendations are widely adopted, this could grow to £448 million per year and reduce carbon by 65,600 tCO2e among the 54 participating industrial organisations.
In addition to local efforts, Invest NI is showcasing Northern Ireland’s expertise globally through initiatives such as the Net Zero Exchange Programme.
A delegation of 10 firms and eight stakeholders from government, academia, and business from Northern Ireland to Malaysia and Singapore to demonstrate Northern Ireland’s capabilities in clean water, hydrogen, and decarbonisation technologies. The mission opened doors for trade, collaboration, and investment opportunities, further positioning Northern Ireland as a global force in the green economy.
Closer to home, Invest NI partnered with Northern Ireland Water to highlight the potential for innovation and growth within the water supply chain. This collaboration highlighted opportunities within the water sector, allowing firms to drive innovation, boost productivity, and access new markets across the water supply chain.
In 2024 the US Net Zero Advisory Board was set up with the support of Joe Kennedy III, the former US Special Envoy to Northern Ireland for Economic Affairs. The board leverages expertise from Northern Ireland’s diaspora to strengthen the region’s position as a global leader in green technology and net zero innovation.
Invest NI currently delivers a suite of Energy and Resource Efficiency support for businesses, including specialist advice and investment capital, to enable NI businesses to become more efficient and resilient through green competences. This support helps businesses to optimise and futureproof their operations by implementing green efficiencies to achieve cost savings and carbon savings.
Through these initiatives, Invest NI is enabling firms to innovate, grow, and position themselves as leaders in the global green economy while advancing Northern Ireland’s sustainable future.
The advantage of dual market access
Northern Ireland’s unique dual market access adds further opportunity.
Dual market access gives Northern Ireland manufacturing and construction companies a competitive edge. Northern Ireland is the only region in the world able to trade goods freely with both the GB and EU markets, free from customs declarations, rules of origin certificates and non-tariff barriers.
This allows manufacturing and construction companies in the green sector a unique position when trading in a market worth over £6 trillion.
To capitalise on these opportunities, Invest NI is investing in capabilities through City Deals and centres of excellence to ensure businesses are supported to maximise the impact of dual market access.
A call to action
Invest NI can support your journey – whether it’s accessing new markets, growing your business, or showcasing your capabilities globally.
The green economy is not just good for the planet; it is great for business too. Northern Ireland has the talent, resources, and ambition to lead in the global green economy.
For more information, visit ‘Grow in the Green Economy’
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