BUSINESS | Britain To Ban New Petrol Cars By 2030 On Road To Net Zero Emissions

Britain will ban the sale of new petrol and diesel cars and vans from 2030, five years earlier than previously planned, as part of what Prime Minister Boris Johnson is casting as a ‘green revolution’ to cut emission to net zero by 2050.

Johnson, who is grappling with Europe’s most deadly COVID-19 crisis, Brexit trade negotiations and the departure of his most senior adviser, wants to underscore his green credentials as part of what he hopes will be a reset for his government.

‘Now is the time to plan for a green recovery with high-skilled jobs that give people the satisfaction of knowing they are helping to make the country cleaner, greener and more beautiful’, Johnson said in a column published in the Financial Times on Tuesday.

Britain last year became the first G7 country to set in law a net zero emission target by 2050, which will require wholesale changes in the way Britons travel, use energy and eat.

In total the plan would mobilise 12 billion pound ($16 billion) of government money, with as much as three times that amount coming from the private sector, and create and support 250,000 highly skilled green jobs by 2030, Johnson said.

The new date for a ban on new petrol and diesel cars is five years earlier than the 2035 pledge made by Johnson in February. The sale of hybrid cars and vans would be banned from 2035 under the new plan.

An extra 200 million pounds would create industrial clusters mustering technology capture, store and use carbon dioxide emission by the mid-2020s. Another two hubs are projected by 2030, taking the total investment in the technology to 1 billion pounds.

Johnson, who promised to increase Britain’s offshore wind power to 40 gigawatts by 2030 from around 10GW now, pledged up to 500 million pounds for projects trialing the use of hydrogen including for home heating and cooking.

The government would also help to develop large and small scale nuclear plants.

Johnson’s plan was broadly welcomed by industry.

‘It gives a springboard to the huge opportunities for U.K.-wide investment and green jobs that a true low-carbon economy can bring’, Josh Hardie director at the Confederation of British Industry, said in a separate statement.

Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

PARIS, France – Saudi Arabia’s industry and Mineral Resources said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly – established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push … More Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

Saudi Arabia’s Crown Prince Arrives In Egypt, Will Visit Jordan And Turkey Next

PARIS, France – Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Egypt on Monday and was welcomed by Egyptian President Abdel – Fattah el Sisi, state news agency SPA reported. The Crown Prince’s visit to Egypt is part of a tour that will include visiting Jordan and Turkey next. The visits were based on … More Saudi Arabia’s Crown Prince Arrives In Egypt, Will Visit Jordan And Turkey Next

Sheikh Mansour Bin Zayed Establishes National Media Office in UAE

PARIS, France – Sheikh Mansour bin Zayed, the UAE’s deputy prime minister and minister of presidential affairs, on Wednesday launched the National Media Office. The unit is tasked with developing the media sector, legislation, regulations, and decisions on media development while also monitoring the implementation of legislation in coordination with the relevant authorities and administrative … More Sheikh Mansour Bin Zayed Establishes National Media Office in UAE

Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

PARIS, France – Abu Dhabi state fund Mubadala and a fund managed by European buyout firm EQT have agreed to buy Envirotainer, a Swedish company which leases out cold containers for shipping temperature – sensitive healthcare products. Mubadala and the EQT X fund are buying the company from European buyout firm Cinven and Denmark life … More Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

Russia’s Lavrov To Meet With GCC Ministers In Riyadh On Wednesday – Officials

PARIS, France – Russian Foreign Minister Sergei Lavrov will visit Saudi Arabia on Wednesday where he will meet with the foreign ministers of the Gulf Cooperation Council Countries (GCC), two Gulf officials said on Tuesday. Lavrov is expected to meet with ministers of Saudi Arabia, the United Arab Emirates, Oman, Kuwait, Bahrain and Qatar in … More Russia’s Lavrov To Meet With GCC Ministers In Riyadh On Wednesday – Officials

Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources

DUBAI – Dubai’s Emirates Central Cooling System Cooperation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this years, two sources with direct knowledge of the matter said. Empower, which is part owned by Dubai Electricity and Water Authority (DEWA), has asked banks to … More Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources

Loading…

Something went wrong. Please refresh the page and/or try again.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s