This marks a significant increase on earlier projections, which as recently as 2016 saw renewables meeting less than a third of demand in 2025. At the same time, there are further cuts to the outlook for gas-fired electricity generation, which is now set to drop by two-fifths over the next six years.
Emissions of the gases that drive climate change have fallen for six years in a row, and are 44% below the 1990 baseline for the UK. Emissions of carbon dioxide, the main greenhouse gas, are at the lowest level since before the start of the 20th century, when Queen Victoria was still on the throne, government officials said.
The former South Korean diplomat’s comments on UK Export Finance (UKEF), which provides lines of credit and insurance to help companies win business overseas, are the first time he has singled out a country’s credit export agency. “There is now a growing consensus that fossil fuels should not be funded in any way by export finance organisations,” he said.