The National Oceanic and Atmospheric Administration (NOAA) explained that global warming increased global temperatures. Additionally, statistics tabulated a 0.8 degrees Celsius increase in the last 100 years. Conversely, extreme weather calamities like hurricane formation, floods, and wildfires are linked to global warming. Thus, several states were necessitated to institute measures that minimize carbon emission. The measures include taxing diesel and petrol automobiles, minimizing carbon fuel imports and production, and instituting an Emission Trading System for different states.
On the other hand, many countries have led to embracing renewable energy production by establishing a significant number of wind turbines and installing solar panels. The SSE, a U.K. energy company, stated its plans on tripling its wind energy production by 2030 in support of the shift from fossil fuel to renewables. Consequently, the energy company aims to produce the most considerable wind power by 2026. According to SSE, the company is yet to decide to invest in the Dogger Bank wind facility that is estimated to produce 3.2GW of wind power. The wind farm will supply approximately 4.5 million homes with electricity by 2026.
As the global shift from fossil fuel to renewable takes root, the company plans to invest £7.5bn in renewable power production. The company’s plan also falls within the government’s vision of building profitable offshore wind farms to generate power that can be supplied to every household in the U.K. The prime minister issued a 10-point climate proposal that seeks to fund renewable companies in the U.K., thus advance in the renewable sector. The SSE CEO, Alistair Phillips, noted that the prime minister’s plan would provide a smooth transition from carbon fuel to renewables, promoting a greener England.
According to SSE’s report, the company recorded £115m in profit from January to September. Moreover, the profit fell by 26% this year due to the effects of Covid-19 pandemic. However, Philip Davis stated that the company recovery plans are ongoing, and better results are yet to come as the company increases the investment on the wind farm. Additionally, Philip stated that the organization would minimize carbon emissions, stimulate the economy, and minimize the unemployment rate.
The prime minister stated that the state would invest £12bn in renewables, including private and public sectors. The plan aims at investing in electric vehicles, nuclear power, and carbon capture. Consequently, several renewable sectors pledged to invest in the U.K. power industry like the Equinor, Denmark’s Orsted, and Scottish power.