UK water watchdog plans 2.8 billion pound backing for green projects

Britain's water regulator set out a 2.8 billion pound ($3.95 billion) green investment plan on Monday as it aims to lower pollution by utilities, some of which have come under fire for their environmental performance.

Watchdog Ofwat said it is backing Severn Trent Water, South Staffs Water, Pennon-owned South West Water, Thames Water and United Utilities on new green investment projects worth more than 850 million pounds.

It also proposed a further 1.9 billion pounds for future environmental projects in the UK, which is targeting net-zero carbon emissions by 2050.

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