COP 27 Summit: Rishi Sunak a clean energy champion?

November 11, 2022

After massive criticism from the activists and charities in his own country and countries around the world, Prime Minister Rishi Sunak ultimately decided to attend the COP 27 summit hosted in Egypt. His attendance at the summit began Egypt's presidency of COP 27.

On the eve of COP 27, Rishi Sunak announced his ambitions to make the UK a "clean energy superpower." Moreover, during his opening speech at the summit, he stated that "we can deliver on 1.5C pledge".

The government also stated that the UK reduced carbon emissions faster than any other G7 country. According to the government, the UK makes up around 40% of its energy supply through renewable sources. Additionally, the £30 billion government funding for the Green Industrial Revolution supported around 430.000 jobs in low-carbon businesses in the last 18 months. It is believed that moving towards renewable energy will create highly competitive wages and high-skill jobs in the UK industries.


However, Sunak's attempt at being portrayed as a world leader on the environment and a clean energy champion was met with disapproval. Keir Starmer pointed out that Sunak was the one to oppose the onshore wind farms and refuse solar projects. Starmer called PM Sunak "a fossil fuel prime minister in a renewable age".

Furthermore, Sunak's speech was also highly critiqued due to being very vague. It has been pointed out that the UK Prime Minister avoided addressing many challenges his own country faces. Amongst the issues was the lack of progress in reducing methane or the very slow development of heat pump installation to make British homes more energy efficient. However, the biggest disappointment was the court's rejection of the net zero targets and how they will be achieved. The court stated that the plan was vague and, therefore, unlawful. The action plan lacked evidence of how the proposed policies will help achieve the legally binding net-zero targets. It has to be noted that the UK's Net Zero Strategy was created by Boris Johnson's cabinet, not Sunak's, but it is somewhat telling that our current Prime Minister did not appeal the ruling.


Britain was the first country to legally bind its emissions targets in 2008, as well as being one of the first countries to commit to net zero targets; therefore, seeing very little progress since COP 26 in Glasgow last year was rather saddening.

James Alexander, chief executive of the UK Sustainable Investment and Finance Association, commented:

"Since those commitments were made, we have seen a lot of them being either deprioritised or rolled back."


It is without a doubt that Rishi Sunak is faced with a very challenging balancing act. The UK's economic situation is dire, but can it be prioritised over the much-needed actions to tackle climate change? The most obvious solution is to address both challenges simultaneously. It has been evidenced that a green economy can create many opportunities for businesses, boosting the economy and improving the country's overall wealth.

 

The UK Green Building Council's director of communications, policy and places, Simon McWhirter, said:

"This is a chance for a fresh start at the top of government and to put in place the strategic long-range policies that can turn around the UK's fortunes on energy security and cost of living, address the threats to climate and nature head-on, and turbocharge our economic recovery.

In his last campaign to become PM, Rishi Sunak rightly promised to lead a national effort to cut energy waste and insulate millions of homes. That would help tick every box. Our industry is ready to support him to deliver on it."

 


If becoming a more sustainable business is something you would like to be part of, you can contact us at info@gkaccountingservices.com or

call us on 01269 508 081, where we will be more than happy to answer any of your questions and offer advice.

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