01-Feb-2022 | Market Research Store
Recently when Boris Johnson encouraged countries to cease mining fossil fuels at Cop26, the govt has asked oil and gas corporations to assist develop the guidelines on whether major drilling adheres with the UK's climate obligations.
Despite experts' claims that additional oil harvesting is incompatible with achieving net-zero by 2050, a survey surreptitiously released before Christmas and after MPs returned to their seats signaled those authorities will allow new oil extraction.
The "opportunity to input on the design" of UK law is detailed in the publication, which is "primarily" for the oil and gas companies.
Environmental activists have criticized ministers of living in a "fiction" by suggesting that further mining is acceptable with undertaking steps to address the climate crisis.
Last year, a survey by the International Energy Agency, sponsored by the UK's Cop26 president Alok Sharma, indicated that additional oil and gas extraction would make attaining net-zero by 2050 impossible. However, according to a second government investigation, drilling could go ahead if certain conditions are met.
Those circumstances are now up to the sector to define. Ministers claim they like to “safeguard the future” of the oil and gas sector, which has hailed the decision as a boost to “investor confidence” in oil and coal, which experts argue must be phased off.
Few days after the Cop26 meeting, Business Secretary Kwasi Kwarteng sat with oil industry officials for a formal dinner prior to the consultation. Mr. Boris Johnson had asked the world's polluters to halt mining coal at an international meeting just days before, but he seems to have adopted another stance to the UK's domestic fossil fuel assets.
In the roll to Cop26, The Independent started the Stop Fueling the Climate Crisis campaign, which used independent reporting to shine a focus on fossil fuel extraction in the UK.
In the run-up to Cop26, The Representative launched the Stop Fueling the Climate Catastrophe campaign, which used investigative coverage to shine a focus on fossil fuel extraction in the UK.
The Department for Business, Energy and Industrial Strategy (BEIS) held a consultation in which it requested the "UK oil and gas sector and the investment community," as well as NGOs, to provide suggestions on what criteria their initiatives should pass in order to be labeled climate-friendly.
Energy and climate change minister Greg Hands said: “This new checkpoint will be key to our plans to support the oil and gas sector during its net zero transition. It helps safeguard the future of this vital UK industry as we create more opportunities for green jobs and investment across the country.”