May 2024

Government's green light for oil and gas exploration sparks climate concerns

The government's approval for oil and gas exploration beneath offshore wind farms ignites climate concerns, with experts warning of potential setbacks for green investments.

The government is set to announce on Friday that fossil fuel companies will have the opportunity to conduct oil and gas exploration beneath offshore wind-power sites. This decision has been criticised by campaigners who argue that it demonstrates the government's disregard for the climate agenda.

Reports indicate that the oil exploration process will not include any drilling activities, as companies will primarily rely on data to determine the profitability of extraction sites.

Experts argue that the emissions from the combustion of all oil and gas extracted will significantly surpass any potential savings made during the drilling and extraction phases. Moreover, they suggest that the announcement is expected to negatively impact investor trust in the United Kingdom's renewable energy industry overall.

Read more: Sunak to allow oil and gas exploration at sites intended for offshore wind