UK climate backdown risks ‘scaring off green investment’

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 90%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

PM Rishi Sunak has adapted to voters’ focus on the cost of net-zero policies, but his move has sparked uncertainty for car makers and energy firms.

He pushed back a 2030 ban for selling petrol and diesel cars.He ignited business backlash and fears the shift will spread to the Continent.move to roll back deadlines

from 2030 to 2035. He will similarly slow down a push to get homeowners and landlords to switch to renewables-based heating. Mr Sunak said he was choosing a “pragmatic” approach, eschewing ideologues at both ends of the spectrum who either wanted to abandon net-zero ambitions or race towards it too quickly.

In Britain, the move was condemned by Labour but has also divided the governing Conservatives. Home Secretary Suella Braverman backed up Mr Sunak, telling Times Radio that “we’re not going to save the planet by bankrupting the British people”. One of Britain’s biggest energy companies, E.ON UK, said “green versus cheap” was a false dichotomy. Delaying the phase-out of gas boilers for home heating was “a misstep on many levels”, E.ON boss Chris Norbury said.

There has already been a political furore in Germany about moves to rapidly eradicate fossil fuels in domestic heating, and a recent conservation law caused a split in the European Parliament’s centre-right camp.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines