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The Guardian - UK
The Guardian - UK
Environment
Richard Partington Economics correspondent

Firms will hesitate to invest in UK after Sunak’s climate U-turns, says Mark Carney

Mark Carney United Kingdom ​​Rishi Sunak Bank of England Oil European Union
Mark Carney.
Pushing ahead with new oil and gas drilling risked creating a ‘stranded asset problem’ in the UK energy sector, says Mark Carney. Photograph: Reuters

Rishi Sunak watering down the UK’s climate commitments has damaged Britain’s position on the world stage for business investment, according to the former Bank of England governor Mark Carney.

In highly critical comments, Carney indicated that global companies would now think twice about locating their activities in the UK after Sunak pushed back key net zero deadlines and sanctioned new oil and gas drilling.

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