Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with City A.M. this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]
Energy crisis: Ofgem and Kwasi Kwarteng resist pressure and agree price cap is not going anywhere September 21, 2021 Kwasi Kwarteng and Ofgem chief executive Jonathan Brearley have confirmed they had taken a unified position over the price ceiling continuing. The energy regulator and the Business Secretary agreed the energy price cap must “remain in place” during crunch talks to find a solution to record gas costs. Kwarteng held a crisis meeting with the [...]
CMA: UK businesses have until New Year to clean up greenwashing claims September 20, 2021 The UK’s competition watchdog has today given British businesses a deadline of the end of the year to resolve any misleading green marketing claims – so-called “greenwashing” – to avoid regulatory action. At the beginning of 2022, the UK’s Competition and Markets Authority (CMA) will carry out a full review of the environmental declarations made [...]
All new London buses to be zero-emission Mayor says September 17, 2021 Sadiq Khan, the Mayor of London, has announced that new Transport for London (TfL) buses will be carbon neutral, as the UK prepares to host COP26. TfL said in a statement that by the end of next year, ten per cent of London’s bus network will be zero-emission as the network has committed to only [...]
Spending watchdog slams government’s Green Homes Scheme September 8, 2021 The National Audit Office (NAO) has criticised the government’s abandoned £1.5bn Green Homes scheme as “rushed,” saying it frustrated homeowners and failed to create jobs. The Green Homes grant scheme was introduced to help meet the Government meet its ambitious target of net-zero carbon emissions by 2050. Buildings account for 19 per cent of UK [...]
Low wind speeds deflate Orsted’s earnings August 13, 2021 The world’s leading offshore wind provider has warned that its profits for 2021 have been buffeted by low wind speeds The UK’s coastline is normally a prime location for wind speeds, particularly in the North Sea where Orsted has most of its wind turbines. However, in April, May and June wind speeds were the worst recorded [...]
Green economy Spac Spinnaker plots London stock market float July 26, 2021 A special purpose acquisition company (Spac) focused on sustainability and green energy is planning an initial public offering on the London Stock Exchange. Spinnaker Acquisitions — a blank-cheque firm that will target mergers in the green economy — will list in London this week. The company said it will target businesses valued at between £5m [...]
Ecotricity makes fourth takeover bid of Good Energy for £60m July 22, 2021 Ecotricity has made a new higher offer in its takeover pursuit of fellow green energy supplier Good Energy, after a series of rejected offers since June. The latest cash offer, announced this morning, is at 340 pence per share, valuing the Chippenham-based company at around £59.5m. It marks a rise on Ecotricity’s initial indicative offer [...]
Every UK job has the potential to be green, government-backed taskforce says July 14, 2021 Every job in the UK has the potential to be green, according to an independent report today, as long as the right investment is unlocked. The Green Jobs Taskforce, which wrote the report and is backed by the UK government, has been set up to build the workforce needed for prime minister Boris Johnson’s ‘green [...]
Payouts may be given to families to offset higher gas bills under new green government plan July 9, 2021 Families may be provided with cash payouts to offset the cost of higher gas bills under a new green government plan. Whitehall advisors have been discussing plans to compensate households for the more expensive gas bills which will arise from the government push to reduce carbon emissions. The proposals will be aimed at encouraging households [...]