The UK is still backing billions of pounds worth of fossil fuels overseas despite pledging to be a leader on tackling climate change, campaigners claim. Analysis for aid agency Cafod by the Overseas Development Institute has found that between 2010 and 2017 the UK provided support for energy in the developing world with a total value of £7.8 billion. Despite signing up to international agreements to cut greenhouse gas emissions, much of which come from fossil fuels, almost 60% of the money, £4.6 billion, went to supporting the polluting energy sources, the analysis said. The support includes billions in UK Export Finance, such as loans, insurance policies and bank guarantees to UK exporting companies, with almost all of the export finance for energy going to fossil fuels.
Energy Voice 23rd July 2019 read more »