UK investment in clean energy transition falls 10%, bucking global trend
Updated: 2023-04-27 10:00:27
Research shows Britain lagging behind at crucial time as US and EU pursue green growth hastened by Ukraine invasionInvestment in clean energy and the low-carbon economy fell sharply in the UK last year, even as rival nations were increasing their firepower in the global green race, data shows.The UK’s investment in the energy transition fell by 10%, from $31bn to $28bn, from 2021 to 2022, while similar investment in the US rose by about 24% to $141bn, and in Germany by 17% to $55bn. Continue reading...
Nine countries sign declaration to turn North Sea into ‘Europe’s biggest green power plant’Nine European countries have pledged to multiply the capacity of offshore wind farms in the North Sea by eight times current levels before 2050, turning it into what Belgium’s energy minister called “Europe’s biggest green power plant”.The French president, Emmanuel Macron, the German chancellor, Olaf Scholz, and the European Commission chief, Ursula von der Leyen, announced the plan with the prime ministers of Belgium, the Netherlands, Ireland, Denmark and Luxembourg. Continue reading...
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Government wants to create more green jobs in response to Joe Biden’s Inflation Reduction Act packageMinisters are considering an overhaul of the bidding process to fund new renewable energy projects in an effort to create green jobs, amid Joe Biden’s subsidy race.The government said on Monday it has begun a review of the “contracts for difference” (CfD) scheme, which is used to determine the price of electricity from offshore wind and solar farms, with the aim of adding factors such as how many jobs they create to the regular auctions. Continue reading...
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