The UK risks falling behind rival nations in the “international race to zero emissions” if it scales back its ambitions to achieve carbon neutrality and promote clean energy projects, a leading Conservative MP has warned.
Chris Skidmore, the former climate secretary who signed the government’s pledge to sign the zero emissions bill, said zero emissions is the only viable path Britain can take forward.
He added that the “non-zero” path is no longer viable, although some politicians would like it.
Speaking at the Energy Institute’s International Energy Week conference on Tuesday, Mr Skidmore, MP for Kingswood, said it was critical for the UK to find a way to “turn off the caustic narrative that somehow suggests that net zero is making us poorer and colder. keep us warm.” and richer.”
He added that failure to meet this target will result in green energy investments being diverted elsewhere.
“Let’s go in there and show that it’s not just taxpayer money that will fund net zero, it will be private equity firms like you that will make these investments because you see an attractive profit opportunity in a renewable economy.” see,” Mr. Skidmore told investors.
“This is no longer an environmental policy tool, but an energy security policy tool – with renewable energy and green electricity, countries have the opportunity to get rid of gas prices and their dependence on foreign petrostates.”
The Bristol MP published a Net Zero Review report earlier this year and warned that the UK was in danger of missing the mark due to the government’s lack of ambition.
BP CEO Bernard Looney has defended the oil and gas giant’s fossil fuel spending plans, stressed the need for an “orderly” energy transition, and stressed the oil giant’s commitment to zero emissions by 2050.
“To be clear, neat is not another word for slow. Rather, it means making sure that available energy goes where and when it’s needed. Invest in transition and invest in energy security,” Looney said.
He warned that reducing supply without reducing demand would lead to higher prices and more economic instability.
The company, which posted a record £23bn profit, was one of the first energy companies to announce its zero-emissions target “by 2050 or sooner”. He has pledged to cut emissions by 35 to 40 percent by the end of the decade.
The company said last month it was aiming for a 20 to 30 percent cut as it said it needed to continue investing in oil and gas to meet demand.
BP has said it will invest up to €2bn (£1.7bn) in its refinery in Spain by 2030 to produce low-carbon hydrogen and biofuels.
His comments came shortly after protesters blocked the entrance to a central London hotel hosting an energy conference.
Source: I News
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