Joint investment of up to £16bn tied to industry promise to cut carbon emissions by 50% by end of decade
Ministers will allow oil drillers to keep exploring the North Sea for new reserves, despite the government’s pledge to tackle carbon emissions, as long as they pass a “climate compatibility” test.
The government has offered to help the North Sea oil and gas industry cut its carbon emissions through a joint investment of up to £16bn to help support 40,000 North Sea jobs. In return, the industry has promised to cut its carbon emissions by 50% by the end of the decade.
