• Atmospheric CO2 /Parts per Million /Annual Averages /Data Source: noaa.gov

  • 1980338.91ppm

  • 1981340.11ppm

  • 1982340.86ppm

  • 1983342.53ppm

  • 1984344.07ppm

  • 1985345.54ppm

  • 1986346.97ppm

  • 1987348.68ppm

  • 1988351.16ppm

  • 1989352.78ppm

  • 1990354.05ppm

  • 1991355.39ppm

  • 1992356.1ppm

  • 1993356.83ppm

  • 1994358.33ppm

  • 1995360.18ppm

  • 1996361.93ppm

  • 1997363.04ppm

  • 1998365.7ppm

  • 1999367.8ppm

  • 2000368.97ppm

  • 2001370.57ppm

  • 2002372.59ppm

  • 2003375.14ppm

  • 2004376.96ppm

  • 2005378.97ppm

  • 2006381.13ppm

  • 2007382.9ppm

  • 2008385.01ppm

  • 2009386.5ppm

  • 2010388.76ppm

  • 2011390.63ppm

  • 2012392.65ppm

  • 2013395.39ppm

  • 2014397.34ppm

  • 2015399.65ppm

  • 2016403.09ppm

  • 2017405.22ppm

  • 2018407.62ppm

  • 2019410.07ppm

  • 2020412.44ppm

  • 2021414.72ppm

  • 2022418.56ppm

  • 2023421.08ppm


‘Hostile’ climate could lead to £62bn in lost net zero investments, Energy UK warns

Britain could lose out on a staggering £62 billion in investment in the next seven years if the government does not alter its 'hostile environment' for net zero investment, according to the head of a major trade association.

Emma Pinchbeck, chief executive of Energy UK, warned today that investment opportunities in clean energy could be squandered if the UK government does not take measures to combat rapidly rising costs for low carbon projects. 

Calling the current investment climate towards the implementation of net zero strategies 'hostile', Pinchbeck stressed in a new report that was shared with Net Zero Investor that investment opportunities for low carbon generation have "deteriorated significantly" in recent months. 

“As we look to emerge from an energy crisis that has caused huge difficulties for customers, businesses and the wider economy, both the government and the energy industry have been absolutely clear that the answer lies in rapidly expanding our own sources of clean, cheap power and escaping a dependence on expensive fossil fuels that has cost us dearly in recent times," explained Pinchbeck.


The UK is in increasing danger of undermining its own ambitions and failing to deliver on its commitments

Emma Pinchbeck, Energy UK

She added that "in many ways, the UK has led the way in the transition to clean energy – witness our world-leading offshore wind industry – but we risk squandering this position and driving the investment that we need elsewhere.”

The report singled out inflation, interest rates, poorly designed windfall taxes, policy inconsistencies and uncertainty as well as supply chain challenges as the primary factors that drive down investments and make costs jump.

As a result, it is increasingly likely Britain's climate goals will be missed and significant damage will be done to the wider UK economy.

Cost increases

In its report, Energy UK warns that developers and investors have seen costs skyrocket by more than 50%, while it cites a number of analysts who are convinced Britain may lose out on close to £62 billion in green investments up to 2030 if the government does not alter its course soon.

In fact, the group urges Rishi Sunak and his minister to "rethink" a number of fiscal policies to make sure the UK remains competitive for green investors from abroad.

Government response

In response to the report, a government spokesperson said that “the government has consistently attracted investment in renewables." 

He added that "since 2010, the UK has seen more than a 500% increase in the amount of renewable electricity capacity connected to the grid while through Contracts for Difference we have awarded contracts totalling almost 27GW of new low carbon capacity to date."

“We are consulting on reforms as part of the Review of Electricity Market Arrangements, including changes to the wholesale electricity market that would stop volatile gas prices setting the price of electricity produced by much cheaper renewables – cutting the cost of electricity for consumers in the long term and providing certainty for investors," the spokesperson concluded.

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