The UK government presented its “Roadmap” on Tuesday, which aims to achieve net zero emissions by 2050, promising new funding for electric vehicles, renewable aviation fuel and forests for carbon sinks while strengthening the role of atomic energy in the energy transition.
The private sector must spend “trillions” in order to address the global climate crisis, Boris Johnson said at the Global Investment Summit in London, calling on participants to invest in the UK’s efforts to achieve “net zero” carbon dioxide emissions by 2050.
Moreover, while reducing state-owned emissions from oil and gas by 50%, the UK will provide 5 GW in hydrogen production capacity by 2030.
“Because I can deploy billions, with the approval of the chancellor [Rishi Sunak] obviously, but you, you in this room, you can deploy trillions.”Boris Johnson
Paying reference to the mass wealth in the audience, which included figures such as Microsoft co-founder Bill Gates, the Prime Minister joked,”Because I can deploy billions, with the approval of the chancellor [Rishi Sunak] obviously, but you, you in this room, you can deploy trillions.”
It will also set up a new £120m ‘future nuclear enabling fund’ to fund future nuclear technology, including small modular reactors, with a range of potential sites, such as Wylfa, in North Wales.
This morning International Trade Minister Anne-Marie Trevelyan tried to justify the government’s decision not to consider a future ban on gas boilers for the time being.
