Kemi Badenoch, the Conservative leader, has announced a plan to eliminate all net zero requirements for oil and gas companies operating in the North Sea if her party is elected. This initiative is expected to be formally presented in a speech in Aberdeen. Reform UK has also expressed intentions to increase fossil fuel extraction from the North Sea.
The current Labour government has committed to banning new exploration licenses, arguing that a “fair and orderly transition” away from oil and gas will promote economic growth. A spokesperson from the government has stated that exploring new oil fields would not reduce energy bills or enhance energy security and may exacerbate the climate crisis.
Badenoch’s stance indicates a significant shift in Conservative climate policy. She previously stated that achieving net zero by 2050 would be “impossible,” while successive UK governments have aimed for this target since it was legally established in 2019 under Theresa May. The net zero goal requires the UK to balance its carbon emissions with carbon removal, aligning with the 2015 Paris Climate Agreement.
Badenoch claims that net zero requirements hinder the economy and, if elected, she would revoke the emissions reduction targets and the push for technologies like carbon capture and storage. She criticized the current approach, noting the “absurdity” of not exploiting resources that neighboring countries, such as Norway, utilize.
In 2023, then-Prime Minister Rishi Sunak granted 100 new drilling licenses in the North Sea, which he argued was compatible with net zero policies. Reform UK has also voiced support for abolishing net zero goals if they come to power.
The current government highlights its substantial investments in offshore wind and the establishment of carbon capture and storage projects, designed to prevent CO2 emissions from affecting the atmosphere. This technology is recognized by entities like the International Energy Agency and the Climate Change Committee as essential for achieving climate targets.
Source: https://www.bbc.com/news/articles/cp890n51684o?at_medium=RSS&at_campaign=rss