The newly appointed Chancellor, Rachel Reeves, has swiftly launched the National Wealth Fund (NWF), a significant component of the Labour Party's manifesto. With a commitment to invest £7.3bn in emerging green technology ventures, the NWF aims to bolster industries crucial for the future. Noteworthy investments include 'green' steel, hydrogen production through electrolysis, and carbon capture and storage initiatives. The NWF's strategy involves leveraging public funds to attract substantial private capital, with a target of achieving an aggregate fund size of approximately £29bn. The process will be overseen by the National Wealth Fund Taskforce, led by prominent figures like Mark Carney, former Governor of the Bank of England, underscoring the initiative's importance. While the economic returns from this venture remain uncertain, the Government's objective to support businesses essential for achieving net-zero emissions by 2050 is evident. The success of the NWF relies on effective management by the UK Infrastructure Bank, aiming to strike a balance between accessibility for businesses in need and financial prudence to avoid excessive losses. The pressing need for swift action in green investments is emphasized, acknowledging the UK's lag in comparison to other countries in this domain. Despite the challenges ahead, the launch of the NWF signifies a positive step towards advancing green technologies and fostering economic growth, albeit with the inherent risks associated with such ambitious initiatives.