Gas investments important for energy security, UK’s Sunak tells BoE
Chancellor of the Exchequer urges officials to support government’s energy security policy
UK finance minister Rishi Sunak has written to the Bank of England, urging officials to consider the “important role” the financial system will play in the country’s energy security by investing in hydrocarbons such as gas.
The Climate Change Act 2008 legally requires the UK government to achieve net-zero greenhouse gas emissions by 2050.
But the UK still relies on oil and gas for three-quarters of its energy, and around half of its gas comes from imports, the chancellor of the Exchequer
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