UK, more oil&gas wells are to be drilled in the North Sea
The government says permission to drill will be granted as part of a careful transition away from fossil fuels, safeguarding jobs and the economy. But the environmentalists say that the government should refuse the new licences as there are enough fossil fuels to ruin the climate.
However, according to ministers, the strategy will be work. Oil&gas will face targets to reduce emissions by 10% by 2025 and 25% by 2027. It is also committed to cut emissions by 50% by 2030. It will be helped by joint government and private investment of up to £16bn by 2030.
This will include up to £10bn for hydrogen production and £3bn for a technology called carbon capture, usage and storage – where carbon emissions are either turned into other products such as plastics or buried. The government says the deal should cut pollution by up to 60 million tonnes by 2030, while also supporting up to 40,000 jobs across the supply chain.