UK investors welcome new infrastructure bank
The chancellor’s plan to create a new British infrastructure bank has been warmly welcomed—but how will this influence the UK's energy transition journey?
The UK’s renewable energy sector is set to receive a huge boost as plans are underway to create a new green-focused infrastructure bank. In his spring statement on 3 March, Chancellor Rishi Sunak unveiled plans for developing a Leeds-based bank to target sectors such as renewable energy and carbon capture. It will start with initial capitalisation of £12bn ($16.8bn), with at least a further £40bn of investment expected, and the bank has already attracted interest from institutional investors. “It is a good idea, and the government is going to need a lot of financing for its ten-point plan” Bryn Jones, Rathbones Bryn Jones, head of fixed income at asset manager Rathbones, regards this
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
Recent project approvals have yielded millions of carbon credits linked to the plugging of the US' abandoned wells