LONDON (Reuters) – The United Kingdom will not commit to halting new oil exploration in the North Sea, a government energy body told Reuters, despite a warning from the world’s top energy watchdog to rein in fossil fuels spending to achieve climate goals.
The UK is due to host the U.N. Climate Change Conference (COP26) in Glasgow, Scotland, in November and commissioned the International Energy Agency (IEA) to chart a path towards net-zero emissions by 2050.
The agency published its findings last week, but its recommendation that fossil fuel investment be halted sits uneasily with a deal the U.K. government reached in March to continue allowing North Sea offshore oil licensing in exchange for pledges to cut emissions.
“We are working hard to drive down demand for fossil fuels, however there will continue to be ongoing demand for oil and gas,” the UK department for Business, Energy and Industrial Strategy said in response to emailed questions from Reuters.
via Reuters
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