UK spending 32 times more on fossil fuels than renewables

The U.K. government is squandering an opportunity to move towards a zero carbon future by pumping billions of stimulus cash into fossil fuels and all but neglecting renewable energy, according to a major new report released today.

Contrary to Prime Minister Boris Johnson’s claim that Britain could become the “Saudi Arabia of wind power,” the report by Finnish power firm Wärtsilä Energy reveals that the U.K. has allocated $5 billion in stimulus commitments to fossil fuels, while clean energy will receive $158 million—just 3% of the injection intended for hydrocarbons.

The disparity indicates that current stimulus measures, intended to kickstart an economy ravaged by the coronavirus crisis, will cement fossil fuels’ place in the energy system, making it harder for the U.K. to achieve its target of a 57% reduction in greenhouse gas emissions by 2030.

David Vetter
Senior Contributor

Reference: Forbes