Green tariffs alone not enough to prompt UK energy consumers to switch supplier February 2, 2021 | City Talk Over three-fifths (62%) of UK energy consumers are more likely to purchase a product or service that is sustainable, with over 40% of under 35s willing to pay a premium for sustainable energy, a new EY survey reveals today. The survey, which canvassed the views of 2,000 UK energy consumers to explore their attitudes towards [...]
Renewable energy production surpasses fossil fuels in 2020 January 28, 2021 Renewable energy sources surpassed fossil fuel energy production in the UK for the first time ever in 2020, led by wind power generation. According to analysis by think tank Ember, renewable sources provided 42 per cent of the UK’s energy, while fossil fuel sources like gas produced 41 per cent. The remaining 17 per cent [...]
Martha Stewart’s got the munchies: Lifestyle guru selling CBD oil treats for pets January 26, 2021 Lifestyle guru Martha Stewart today launched a line of cannabis-infused oil drops and soft-baked chews for dogs
Shock to the system: Ofgem proposes new body to run electricity network January 25, 2021 Ofgem has this morning submitted proposals for the creation of an independent body to run the UK’s electricity network, in what would be a radical shake-up of the way the country’s power is managed. Such a body, the watchdog says, could save consumers up to £4.8bn by 2050, while leading the country’s charge towards net [...]
Sustainable investing may be the breakout star of 2021 January 24, 2021 The concept of sustainable investing has been around a while but, for many, it has taken a long time for the penny to drop – that we can actually use our money, our investment decisions, to bring positive change in the world. The good news is that momentum has been slowly gathering over the last [...]
Greencoat buys 24 per cent Texan wind farm stake from RWE January 19, 2021 UK renewables fund Greencoat has bought a 24 per cent stake in four wind farms in Texas from energy giant RWE. The investment manager will pay $160m for the stake, giving the 207 megawatt project an enterprise value of around $300m. As a result of the sale, RWE will own just 25 per cent of [...]
Corona Impact Series: How a Chiswick energy startup grew up fast during the pandemic January 6, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: how a small West London-based supplier of green energy thrived during last year’s lockdowns. The pandemic story of So Energy in Chiswick certainly bucked the national trend last year. Only [...]
BlackRock: Sustainable investments to accelerate in 2021 as ESG focus intensifies January 2, 2021 The global health and economic challenges of 2020 have not slowed investor demand for sustainable investing, a new BlackRock survey has found. In fact, investors plan to double their allocations to sustainable products over the next five years, and 20 per cent said that the pandemic would actually accelerate their sustainable investing allocations, according to [...]
UK to stop backing overseas oil and gas projects December 12, 2020 Boris Johnson will pledge to end direct government support for overseas fossil fuel projects at a U.N. summit on Saturday, aiming to spur similar moves by other countries to help tackle climate change, his office said. Britain, which is co-hosting the virtual summit ahead of climate negotiations in Glasgow next year, has faced accusations of [...]
EU confirms Brexit-adjusted carbon market permit removals for 2021 December 12, 2020 The European Commission confirmed late on Friday how many pollution permits will be removed from the European Union carbon market in 2021 due to the UK’s departure from the scheme at the end of this year. The carbon market is the EU’s flagship climate policy, forcing power plants, industry and airlines running intra-EU flights to [...]