Ukib to focus on energy security and net zero – Sunak

The UK treasury-owned bank must balance investments between energy security and long-term decarbonisation, says finance minister

The UK Infrastructure Bank (Ukib), a private bank owned wholly by the UK government treasury, has been encouraged in a letter providing strategic steer from finance minister Rishi Sunak to prioritise investment opportunities that align with both immediate energy security concerns and the country’s long-term climate ambitions. “[It] is important that we take every step possible to improve our energy resilience, to protect us from future shocks and volatility in global markets,” writes Sunak. “This does not change the long-term mission of the bank but emphasises the need to make rapid progress on its net-zero goals, particularly where they overlap with the government’s renewed focus on energy