A new plan to help deliver clean and affordable technology across the world by 2030 is being hailed as another Cop26 milestone by Boris Johnson.

A total of 40 nations are backing the ‘Glasgow Breakthroughs’, to give developing countries access to the innovation and tools needed to make the shift to net zero carbon emissions.

Downing Street believes the initiative can create 20 million new jobs globally and add over $16 trillion to the economies of both emerging and advanced economies.

It will cover: clean power, zero emission road vehicles, near-zero emission steel production, low carbon hydrogen and climate-resilient and sustainable agriculture.

By “sending strong signals to industry”, governments believe they can stimulate green investment, join up research efforts and mobilise private finance.

On Monday, Mr Johnson launched a £3bn ‘Clean Green Initiative’ in Glasgow, to help fund infrastructure and green technology in developing countries.

“By making clean technology the most affordable, accessible and attractive choice, the default go-to in what are currently the most polluting sectors, we can cut emissions right around the world,” the prime minister said.

“The Glasgow Breakthroughs will turbocharge this forward, so that by 2030 clean technologies can be enjoyed everywhere, not only reducing emissions but also creating more jobs and greater prosperity.”

The announcement comes after a deal was announced aiming to save the world’s forests, by halting and reversing deforestation over the next decade.

China’s Xi Jinping, Brazil’s Jair Bolsonaro and Joe Biden, the US president, all backed the declaration to protect vast areas, ranging from the Amazon to eastern Siberia and the Congo basin.

Australia, India, Japan, Turkey, the US, South Korea and EU nations are among the 40 committing to the Glasgow Breakthroughs.

Their leaders will also commit to discuss global progress every year in each sector, with annual reports by the International Energy Agency and a United Nations body.

It may be the first step towards annual reporting of the real-world progress each country is making towards their carbon-cutting promises made in Glasgow, to prevent backsliding.

Antonio Guterres, the United Nations secretary-general, told the presidents and prime ministers gathered that a gap of five years before they reported would be too late.

Mr Johnson also announced small pots of money – £40m and £10m respectively – to help island states most threatened by rising oceans, caused by global heating.

At an event with Narendra Modi, the Indian prime minister, he said: “They have done virtually nothing to cause the problem.

“They didn’t cause the huge volumes of CO2 to be pumped into the atmosphere. So I would encourage every country that has contributed to pumping CO2 into the air over the last 250 years to join this campaign.”