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Fossil Fuels: Capital Investment

Question for Department for Business, Energy and Industrial Strategy

UIN 59907, tabled on 20 October 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking in response to the recommendation of the International Energy Agency that there should be no new investments in oil and gas production fields, coal mines or unabated coal power plants beyond 2021.

Answered on

28 October 2021

While the Government is working to drive down dependency for oil and gas, there will continue to be ongoing demand over the coming years, as recognised by the independent Climate Change Committee. Given the maturity of the UK Continental Shelf, even with continued development, the UK is projected to remain a net importer out to 2050.