Institute calls the awarding of 24 new licences for exploration for oil and gas in the UK North Sea 'grossly irresponsible'

Responding to the announcement today that the North Sea Transition Authority has awarded 24 new licences for exploration for oil and gas in the UK North Sea, Bob Ward, Policy and Communications director at the Grantham Research Institute on Climate Change and the Environment at the London School of economics and Political Science, said:

“This is grossly irresponsible and undermines the best interests of the UK. The licences will not reduce energy bills or make us more energy secure. But they will further destroy the UK’s international reputation on climate change.

“This announcement will, however, undermine the confidence of investors in alternatives to fossil fuels and reduce our competitiveness in the new sustainable industries.

“This also suggests that the UK Government did not act in good faith when it signed up to the collective decision at the COP28 United Nations climate change summit in Dubai in November to accelerate the transition away from fossil fuels.

“This provides further evidence that the UK Government is ignoring the advice of the Climate Change Committee and other experts, and instead listens only to a handful of noisy backbench MPs on the fringes of the Conservative Party.”

ENDS

This release was corrected on 1 February 2024 to say “24′ rather than “23” new licences.