The China Mail - Oil permits and wind crisis threaten UK net zero pledge

USD -
AED 3.672503
AFN 68.3669
ALL 83.349781
AMD 383.839771
ANG 1.789783
AOA 916.999761
ARS 1300.505602
AUD 1.556759
AWG 1.80025
AZN 1.698576
BAM 1.678186
BBD 2.013283
BDT 121.620868
BGN 1.678645
BHD 0.377018
BIF 2981.730497
BMD 1
BND 1.286588
BOB 6.907914
BRL 5.491201
BSD 0.999588
BTN 87.180455
BWP 13.450267
BYN 3.366428
BYR 19600
BZD 2.005526
CAD 1.388801
CDF 2873.000147
CHF 0.806655
CLF 0.024602
CLP 965.139664
CNY 7.176198
CNH 7.181075
COP 4023.74
CRC 504.406477
CUC 1
CUP 26.5
CVE 94.615177
CZK 21.074496
DJF 178.009662
DKK 6.412921
DOP 62.06293
DZD 129.933985
EGP 48.521599
ERN 15
ETB 141.325547
EUR 0.85916
FJD 2.272801
FKP 0.74349
GBP 0.743515
GEL 2.69499
GGP 0.74349
GHS 10.996027
GIP 0.74349
GMD 72.000204
GNF 8665.657003
GTQ 7.664982
GYD 209.142475
HKD 7.813629
HNL 26.148401
HRK 6.471201
HTG 130.792926
HUF 339.952965
IDR 16317
ILS 3.418796
IMP 0.74349
INR 87.26555
IQD 1309.216341
IRR 42050.000273
ISK 123.219954
JEP 0.74349
JMD 160.645258
JOD 0.708978
JPY 147.865503
KES 129.149973
KGS 87.447996
KHR 4007.448534
KMF 422.510487
KPW 900.00801
KRW 1398.850142
KWD 0.30573
KYD 0.833069
KZT 537.332773
LAK 21668.540242
LBP 89954.690946
LKR 301.768598
LRD 200.432496
LSL 17.694413
LTL 2.95274
LVL 0.60489
LYD 5.423772
MAD 9.017311
MDL 16.829568
MGA 4406.477135
MKD 52.805677
MMK 2098.932841
MNT 3596.07368
MOP 8.045103
MRU 39.903724
MUR 45.809748
MVR 15.399915
MWK 1733.414569
MXN 18.75766
MYR 4.2245
MZN 63.909788
NAD 17.694717
NGN 1535.540162
NIO 36.784864
NOK 10.18226
NPR 139.488385
NZD 1.717313
OMR 0.3845
PAB 0.999631
PEN 3.48817
PGK 4.225068
PHP 57.092502
PKR 283.626441
PLN 3.653668
PYG 7223.208999
QAR 3.643267
RON 4.343196
RSD 100.692044
RUB 80.576076
RWF 1446.972102
SAR 3.752776
SBD 8.220372
SCR 14.756021
SDG 600.501559
SEK 9.59213
SGD 1.287425
SHP 0.785843
SLE 23.303834
SLL 20969.49797
SOS 571.340307
SRD 37.819013
STD 20697.981008
STN 21.023907
SVC 8.746316
SYP 13001.955997
SZL 17.700566
THB 32.650028
TJS 9.396737
TMT 3.5
TND 2.926143
TOP 2.342102
TRY 40.93983
TTD 6.774047
TWD 30.516983
TZS 2490.884966
UAH 41.180791
UGX 3563.56803
UYU 40.192036
UZS 12460.904149
VES 137.956895
VND 26432.5
VUV 119.91017
WST 2.707396
XAF 562.893773
XAG 0.026441
XAU 0.000299
XCD 2.70255
XCG 1.801636
XDR 0.699543
XOF 562.857547
XPF 102.331767
YER 240.200812
ZAR 17.699201
ZMK 9001.20281
ZMW 23.117057
ZWL 321.999592
  • CMSC

    0.0500

    23.49

    +0.21%

  • BCC

    -0.1100

    84.39

    -0.13%

  • JRI

    -0.0050

    13.325

    -0.04%

  • SCS

    0.0050

    16.185

    +0.03%

  • RELX

    -0.5350

    48.155

    -1.11%

  • NGG

    -0.6530

    71.427

    -0.91%

  • GSK

    0.2050

    40.275

    +0.51%

  • CMSD

    0.0780

    23.768

    +0.33%

  • RYCEF

    0.1900

    13.94

    +1.36%

  • BCE

    -0.0950

    25.645

    -0.37%

  • AZN

    0.2400

    80.76

    +0.3%

  • RBGPF

    0.0000

    73.27

    0%

  • VOD

    -0.0650

    11.835

    -0.55%

  • BP

    0.1250

    34.005

    +0.37%

  • BTI

    0.1650

    59.175

    +0.28%

  • RIO

    0.5500

    61.17

    +0.9%

Oil permits and wind crisis threaten UK net zero pledge
Oil permits and wind crisis threaten UK net zero pledge / Photo: © POOL/AFP/File

Oil permits and wind crisis threaten UK net zero pledge

With the provision of a swathe of new oil and gas exploration licences and a crisis in offshore wind energy, clouds are gathering over the UK's net zero promises.

Text size:

The Conservative government of Rishi Sunak in July promised "hundreds" of new licences for oil and gas exploration and production in the North Sea, arousing the anger of environmentalists.

The NGO Greenpeace later covered the prime minister's private residence with a huge "oil black" tarpaulin to denounce the "drilling frenzy".

"Any government support for continuation of fossil fuels has a negative impact on the transition because it drives investors away", Erik Dalhuijsen, co-founder of Aberdeen Climate Action, told AFP on the sidelines of the Offshore Europe conference in Aberdeen, Scotland, this week.

"Opening new oil fields, I don't see how that's consistent with net zero," added Jean Boucher, a member of activist group Extinction Rebellion and an environmental sociologist.

More bad news for the wind energy sector, which is at the heart of the UK's plan to become a net zero carbon emitter by 2050, arrived this week when the government's auction of permits to build offshore wind farms failed due to a lack of takers.

Russia's invasion of Ukraine has caused inflation and production costs to soar around the world, raising the cost of steel and other materials used to build wind turbines.

Electricity tariffs that energy companies can charge have also been capped, leading companies in the sector to claim that offshore wind projects are no longer profitable.

Greenpeace called the failed auction the "biggest disaster for clean energy in almost a decade", putting the net zero target "in jeopardy".

Swedish energy company Vattenfall has already thrown in the towel on one major project, Norfolk Boreas, and others may follow.

"I know for a fact other companies are looking really hard at their licences and their ability to invest" in wind power in the UK, Michael Tholen, sustainability director of energy lobby Offshore Energy UK (OEUK), told AFP at the Offshore Europe conference.

Mads Nipper, boss of Danish electricity giant Orsted, also warned that "offshore wind ambitions will only happen with sane auction frameworks and realistic prices".

- Shifting priorities -

A few days before Friday's embarrassing admission of failure, Downing Street announced that it was lifting a de facto ban on the construction of new onshore wind farms, which was hailed as a step in the right direction, but too timid by some.

The war in Ukraine and political upheaval at home has seen London's priorities shift.

"There's been a lot of political change in the UK over the last few years," Clare Bond, professor of geophysics at Aberdeen University, told AFP.

"There is this interplay between energy security and net zero...but we really need to question how quickly we're getting toward net zero and what we can do to accelerate that," she added.

NGOs, experts and companies in the sector are calling for urgent reform of the tendering process, for example by introducing a minimum profit for energy companies, as suggested by Dalhuijsen.

Others stress the need for long-term stability in taxation and regulation.

"It's getting the right framework and the confidence of the industry to take forward those investments," said Bond.

At least £100 billion of private sector investment in hydrocarbons or offshore wind is needed if the UK is to meet its 2050 carbon neutrality target and secure its energy supply, OEUK argued in a report last week.

For Dalhuijsen, the goal of carbon neutrality by 2050 is still achievable, "but it's getting more and more difficult.

"We need to bring the emissions down and any year there is a delay it becomes almost twice as difficult," he warned.

S.Wilson--ThChM