London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Carbon emissions: Scale of UK fossil fuel support 'staggering'

Carbon emissions: Scale of UK fossil fuel support 'staggering'

A small government agency is supporting fossil fuel projects abroad with estimated carbon emissions of a country the size of Portugal, it has emerged.
UK Export Finance (UKEF), a government agency in the Department for International Trade, is spending billions of pounds on the projects, Newsnight researchers have found.

This is despite a government commitment to cut down on carbon emissions.

The Conservative Environment Network (CEN) called the figures "staggering".

The organisation, which describes itself as a forum for conservatives who support conservation and decarbonisation, said funding the projects was "a blemish on the UK government's record on climate change".

An investigation by Newsnight, in conjunction with Unearthed - Greenpeace's investigations unit - found that UKEF has helped to finance oil and gas projects that, when complete, will emit 69 million tonnes of carbon a year, according to government estimates.

That's nearly a sixth of the total annual carbon emissions of the UK.

The government calculated the UK's total emissions to be 449 million tonnes of C02e (carbon dioxide equivalent) in 2018.

It said the 69 million tonne estimate was a "worst case" scenario - and the emissions of the projects may be lower when the projects are operational.

The UK is just one of a number of backers for these projects.

UKEF was set up a century ago - and aims to support British businesses abroad.

Earlier this week, Boris Johnson announced that the UK would no longer finance coal mining or coal-fired power plants abroad.

Newsnight's investigation found all of UKEF's current fossil fuel financing was for oil and gas projects, and not coal.

Newsnight research also found that - since 2010 - UKEF has financed £6bn of fossil fuel projects. Financing has been provided to some of the biggest oil and gas companies in the world.

The projects that UKEF helps to fund abroad include oil refineries, power plants and liquefied gas extraction.

Last year, the Environmental Audit Committee (EAC) published a report criticising UKEF as an "elephant in the room undermining the UK's international climate and development targets".

Kerry McCarthy MP, a Labour member of the EAC said: "It's ludicrous that we would be funding something overseas, that we are purporting to be moving away from in our own country.

"There's just a complete disconnect, there's complete hypocrisy, that we boast of cleaning up our own act, but actually we are enabling other countries to carry on polluting."

UKEF told Newsnight: "We are committed to working with countries across the world to unlock their renewable energy potential and support their transition away from fossil fuels to cleaner alternatives."

As well as investments in fossil fuels UKEF has also financed some renewable projects.

The CEN's Sam Hall said the government needed to solve the issue of what UKEF funds before COP26 - an international climate change conference due to be held in Glasgow in November this year.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×