With the British Parliament’s approval of a net zero fossil fuel pollution goal by 2050, consumers and investors will have to rethink basic approaches to heating their homes and driving their cars as the U.K. extends its effort to become a carbon-free nation.
Britain will become the first major economy to pass a law requiring it end its contribution to climate change. The country has already moved far in that direction, as less than half of its power was generated at fossil fuel-fired plants so far this year.
- “One thing is clear for investors – there is no uncertainty in what they should be looking into: a carbon-free market,’’ Sarah Merrick, chief executive officer of U.K. wind energy provider Ripple Energy, told Karma in an interview.
- “I think this means a big shift in consumer thinking, in terms of how investors feel towards alternatives in heating, automobiles, and non-meat investing.”
- “It shows investors that the U.K. has a big appetite for clean tech and environmental solution opportunities.”
- Karma Take: The approval of the net zero fossil-fuel goal not only reaffirms the U.K. as an international leader in carbon reduction, but also brings clarity for more clean energy opportunities for investors.