UK to invest £620m in EV transition as part of net zero plan October 19, 2021 The UK Government has announced it will invest £620m to support the transition to electric vehicles (EV) as part of the Net Zero strategy unveiled today. “By moving first and taking bold action, we will build a defining competitive edge in electric vehicles, offshore wind, carbon capture technology and more, whilst supporting people and businesses [...]
Most Brits support net zero policies – until they make life more expensive October 18, 2021 The majority of the public support net zero policies, until they curb personal freedoms and make life more expensive, according to new research. Policies like increasing taxes on red meat and dairy rallied the least support across the older generations, while frequent flyer levies failed to pull in younger, travel-hungry, individuals, according to the research [...]
EDF owned Pod Point set to raise £120m in London IPO next month October 18, 2021 Pod Point, an electric vehicle charging company majority owned by EDF Energy, is set to rally £120m in fresh funds from its London float which is due to land on the exchange next month. The initial public offering (IPO), which the firm announced last week, will see Legal & General Capital Investments sell off a [...]
New gas boilers to be banned from 2035 in latest decarbonisation push October 15, 2021 New gas boilers are set to be banned from 2035, with households being incentivised to make the transition to heat pumps with a £5,000 grant. The move, due to be unveiled under the government’s Heat and Buildings strategy next week, is one of the plans of action in getting the country to net zero by [...]
Volvo launches world’s first fossil-free steel vehicle October 13, 2021 Volvo Group launched today the world’ first vehicle made of fossil-free steel, announcing that more will follow in 2022 as part of the company’s pathway to reach net zero by 2050. Made in collaboration with Swedish company SSAB – which specialises in transforming raw materials into steel – the load carrier for mining and quarrying [...]
Grid investments coming up short risks freezing the UK’s renewables transition October 11, 2021 The conditions are ripe for growth in the UK’s renewable sector as COP26 fast approaches, though a lack of investment could hamper the country’s goals. As policy paves the way for fresh investment and new tech, the renewables sector continues to battle bottlenecks – which could require a doubling of investment over the next 10 [...]
UK-listed firms are most likely to pledge net zero targets, but few will reach them October 11, 2021 UK-listed firms are the most likely to have set a net zero target for their emissions output than their European counterparts, according to a new report. Though just five per cent across the continent are on track to meet their targets. The study, by consulting and outsourcing giant Accenture, found that less fossil-fuel reliant industries [...]
Less than half of Brits think the UK will achieve net zero by 2050 October 11, 2021 Less than half of Brits think the UK will achieve its emissions target of net zero by 2050, according to a new report shared with City PM today. The report, by market intelligence firm Savanta, revealed that 42 per cent of the UK think the government’s pledge is ‘likely’, while 46 per cent think it [...]
The UK should ban domestic flights, says advocacy group October 11, 2021 British advocacy group Campaign for Better Transport is calling on the government to ban some domestic flights to reduce the amount of CO2 emissions produced domestically by aviation. If introduced, the ban would end several short-haul routes such as London to Manchester, London to Edinburgh and Birmingham to Glasgow. Travellers would be offered train tickets [...]
HSBC’s £36bn pension scheme pledges to be net zero by 2050 at the latest October 8, 2021 HSBC’s pension scheme, one of the largest corporate pension schemes in the UK, has pledged to achieve net zero carbon emissions by 2050 or sooner. In the run up to COP26, an increasing number of activists have zeroed in on fossil-fuel investing pension funds and wider financial institutions like HSBC and Lloyds for carbon-heavy investments. [...]
