Renewable Energy News Roundup: July

In this roundup we bring you the latest renewable energy news, including biofuel targets set by the liquefied petroleum gas industry and the government’s new Green Finance strategy. 

UK Government Announces Green Finance Strategy

The UK government is to increase its spending on sustainable projects and infrastructure. 

The Green Finance Strategy, which has just been revealed along with a new Green Finance Institute, will be co-funded by the UK Government and the City of London Corporation. 

The plan is to bring together the UK’s environmental expertise and world leading financial services sector, with the strategy central to the UK’s 2040 net zero emissions targets. 

The announcement, which was made at the third Green Finance Summit in London, laid out plans to increase the availability of finance to capitalise on new economic opportunities. 

Economic Secretary to the Treasury and City Minister, John Glen, said: 

“The UK has a long history of leading the way in tackling climate change, but we need to do more to protect our planet for future generations.

“[The] Green Finance Strategy will support this ambition, with new initiatives to boost funding for green ventures and ensure the environment is at the centre of all financial decision-making.”

Download the Green Finance Strategy and read how the proposals support the UK’s policies for strong, sustainable and balanced growth in both the renewable and finance sectors. 

Homes Must Undergo Huge Redevelopment To Support Renewables, Says LPG Industry

The liquefied petroleum gas (LPG) industry, a sector heavily dependant on fossil fuels, has unveiled plans to operate in an economy quickly moving towards net zero greenhouse gas emissions. 

It has unveiled a new industry-wide target of being 100% biofuel by 2040 at the latest.

The industry’s trade body, UKLPG, has also announced it is to rebrand as Liquid Gas UK, as it looks to improve its image and highlight the role the sector can play in the UK’s wider net zero transition.

George Webb, chief executive at Liquid Gas UK, says the industry understands the challenges we face, especially with the current economic, political and environmental landscape. 

He said: “it is important that the LPG industry is seen as a modern and innovative industry,” and focused on how domestic energy — not just his own industry — will have to adapt. 

There are millions of homes across the UK that, unless undergoing a major redevelopment, a transition to electrified heating solutions (ground source heat pumps or air source heat pumps) is not affordable.”

Webb also commented that “one size fits all approach for off-grid energy will not work.”

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