Political pushback on UK’s green agenda
- Areeba Khan
9fin’s latest feature outlines the UK’s emissions trajectory and performance, recent green policy reversals by Prime Minister Rishi Sunak, and presents our analysis of its implications for the high-yield market in the UK.
The UK was the first major economy to adopt an official net zero target. It achieved the fastest reduction in greenhouse gas emissions in the G7 since 1990.
For example, the UK achieved a 48.7% reduction compared to a 40% reduction in Germany. This was due to emissions reductions in the electricity generation sector, driven by a sharp drop in coal’s share of electricity generation from 80% in 1990 to 1.5% in 2022.