70226
British Gov’t Criticized for Fossil Fuel Spending
British Gov’t Criticized for Fossil Fuel Spending

British Gov’t Criticized for Fossil Fuel Spending

British Gov’t Criticized for Fossil Fuel Spending

The British government has been accused of undermining its own efforts to tackle climate change after new research revealed it is investing twice as much in fossil fuel projects overseas as it is in renewables.
Almost half (46%) of the money the UK spent on energy overseas went on fossil fuels while barely more than a fifth (22%) was spent on renewable energy sources.
The research, commissioned by Catholic charity CAFOD and carried out by the Overseas Development Institute, analyzed spending between 2010 and 2014–the last period for which data are available, The Independent reported.
It shows that of the £7.5 billion ($9.7 billion) the UK spent on energy abroad, £1.3 billion were spent on renewables and £2.9 billion on fossil fuels–appearing to contradict both government ministers’ promises on climate change and the UK’s international commitments under the Paris Climate Agreement.
The treaty, signed in 2015, says countries must work toward “making finance flows consistent with a pathway toward low greenhouse gas emissions and climate-resilient development”.
However, UK spending on fossil fuels overseas increased by more than half a billion pounds in the five-year period up to 2014–up from £2.2 billion in 2009-13.

 

Short URL : https://goo.gl/nCFZYr
  1. https://goo.gl/Nf2qky
  • https://goo.gl/8SqF51
  • https://goo.gl/4ERPkG
  • https://goo.gl/GEkf8P
  • https://goo.gl/2wHRDT

You can also read ...

The agreement went through after years of on-off negotiations with the French group.
A technology licensing agreement with French company Air...
No licenses have been issued for state and semi-governmental companies to build power plants in the last four years.
The Energy Ministry has privatized over 50% of power plants in...
OPEC to Struggle With Oversupply for Years
When OPEC and Russia first embarked on clearing a global oil...
Iraq Sets Up Oil Shipping, Trading Joint Venture
OPEC member Iraq has formed a joint venture with a shipping...
NISOC Targeting 20% Rise in Recovery Rate
National Iranian South Oil Company aims to increase the...
Brent, WTI Make Gains
Oil prices edged up on Wednesday, lifted by declining US crude...
China Energy Demand to Peak in 2040
China's energy demand will peak by 2040, a decade later than...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus