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UK “inconsistent” with 1.5C 6 February 2019

UK Support For Overseas Fossil Fuels Inconsistent with 1.5C Limit, Academics Tell MPs (via DeSmog UK)

Fossil Fuels 

By Sophie Yeo

The UK’s use of export finance to fund overseas fossil fuel projects is “flatly inconsistent” with both domestic climate policy and efforts to meet the 1.5C warming limit, according to academics at a hearing in Westminster today.

UK export finance (UKEF) provides guarantees, insurance and reinsurance to shore up British investments overseas. Yet instead of supporting much–needed renewables infrastructure, some 99 percent of all energy–related support went to fossil fuels. Between 2014 and 2016, the UK spent £551 million per year to support fossil fuel production.

In December 2018, the government’s Environmental Audit Committee launched an enquiry into the state of UKEF. The first hearing took place today.

“If we’re going to hit 1.5C or anything close to it, all of the pathways say that we need very rapid decarbonisation, to demand side mitigation, electrification, emissions reductions now,” said Navraj Ghaleigh, senior lecturer in climate law at the University of Edinburgh. “If that’s correct and if that’s what we want to do, the current pattern of UK export finance is simply flatly inconsistent with that.”

Read more via DeSmog UK…