‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
UK’s first fossil-fuel-free development to be built on London’s South Bank July 23, 2021 The UK’s first fossil-fuel-free major property development is set to be built in London and will be worth some £2.5bn. The new South Bank neighbourhood, by property developer Native Land, will see the 1.4m sq ft space known as Bankside Yards be built with zero emissions in operation. It includes more than 350,000 sq ft [...]
Six million SMEs risk ‘being forgotten’ in net zero transition, banks warn July 22, 2021 The UK’s six million small and medium-sized enterprises (SMEs) could be “forgotten or left behind” in the country’s net zero transition, warns Bankers for Net Zero in a report. The initiative – supported by Barclays, Handelsbanken, Triodos, Ecology Building Society, ClearBank and Tide – argues that measures need to be implemented to avoid leaving SMEs unprepared [...]
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 [...]
UK fiscal watchdog puts cost of reaching net zero at £1.4 trillion July 6, 2021 The cost of the UK reaching net zero by 2050 could be as high as £1.4 trillion, according to figures included in a report published by Britain’s fiscal watchdog today. The UK economy will require over £1 trillion in investment over the next three decades to hit the government’s target of making Britain carbon neutral, [...]
SSE Networks bows to stakeholders and plots a £4bn net zero investment July 1, 2021 Scottish and Southern Electricity Networks (SSEN) may pledge over £4bn in the push for net zero, the energy giant said in a draft business plan today. The draft plan for 2023 to 2028, which was led by stakeholders according to SSEN, set goals like cutting unplanned power interruptions by 20 per cent and connecting a [...]
Danske Bank launches UK’s first carbon-neutral mortgage June 29, 2021 Danske Bank has launched the UK’s first carbon-neutral mortgage, to tackle emissions generated throughout the mortgage life cycle. The mortgages, certified as carbon neutral by the Carbon Trust, will ensure physical paperwork is limited and recycled in Danske’s offices. The Carbon Trust calculated that each mortgage produces around 96kg of carbon, equivalent to driving 241 [...]
European Parliament approves landmark law to make emissions targets legally binding June 24, 2021 The European Parliament has approved a landmark law today which makes emissions targets within the European Union legally binding. Earlier today, the UK’s Committee on Climate Change (CCC) said the government’s lack of policies jeopardise the country’s chances of meeting its net zero emissions by 2050 target. “Today is a historic day,” Swedish Social Democrat [...]
EU energy ministers to redefine rules for fossil fuel project funding June 11, 2021 Energy ministers from the European Union have gathered in Luxembourg today to discuss EU support for natural gas projects, even though the European Commission has urged fossil fuel funding to end to reach net zero. The EU’s “TEN-E” rules can label energy ventures as Projects of Common Interest (PCI), which offers them certain EU funds [...]
US-based Turntide to bolster UK’s renewable tech for freight industry June 8, 2021 US-based renewable tech firm Turntide has confirmed it is rolling into the transport sphere this morning after buying two UK-based engineering businesses. The firm, which has patented a Smart Motor System, is launching its Turntide Transport division today, in its bid for a net zero freight and shipping industry. After buying Sunderland-based battery pack manufacturer [...]
UK rallies Australia to up its net zero targets ahead of G7 summit June 3, 2021 The UK is rallying Australia to up its emission reduction target for the 2030s, the British high commissioner has said today, suggesting 2050 will be too late. Ahead of the UK hosted G7 meeting next week, British high commissioner Vicki Treadell said the UK was asking all attending nations to raise their interim net zero [...]