PM announces the UK will end support for fossil fuel sector overseas

The Prime Minister will announce an end to the UK Government’s direct support for the fossil fuel energy sector overseas, as he opens the Climate Ambition Summit. In the last four years, the government supported £21 billion of UK oil and gas exports through trade promotion and export finance  … compared to    The 10 points plan – which is part of the PM’s mission to level up across the country – will mobilise £12 billion of government investment to create and support up to 250,000 highly-skilled green jobs in the UK, and spur over three times as much private sector investment by 2030.

Guardian  ‘The UK taxpayer is to stop funding fossil fuel projects overseas as part of the government’s push for international action on the climate ahead of a key summit on Saturday. Taxpayers helped to support more than £21bn of fossil fuel development overseas in the last four years, despite calls from green campaigners to halt the finance.

Boris Johnson said: “Climate change is one of the great global challenges of our age, and it is already costing lives and livelihoods the world over. Our actions as leaders must not be driven by timidity or caution but by ambition on a truly grand scale.”

The halt to funding for fossil fuels has been mooted since early this year, when the prime minister was stung by accusations of hypocrisy because the UK continued to fund such developments despite preparing to host the next round of vital UN climate talks, Cop26, in Glasgow.

Click here to read more – Guardian

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