The North Sea Transition Taskforce, supported by the BCC, published its final report on Monday. It called on the Government to rapidly establish a long-term, integrated plan to deliver a just energy transition in the North Sea.
Its new report finds the window of opportunity to secure the future of the North Sea is closing fast. But acting now could deliver economic growth, green jobs, energy security and climate leadership. The Taskforce makes a series of recommendations, including:
– Replacing the current windfall tax with a more proportional system
– Creating a minister-led North Sea Transition Committee to coordinate action across Government
– Developing a long-term framework for large-scale investment in low carbon technology
Here’s the thoughts of our DG Shevaun Haviland, who was Executive Director of Taskforce:
“The North Sea is a national asset which deserves national action. There is a delicate balancing act that must be carried out to secure its future.
“But with the right approach it is possible to deliver economic growth, green jobs, energy security and climate leadership. This is not an either-or answer, it is perfectly possible to do all these things.
“The financial landscape that underpins the North Sea’s future is critical; it must support investment rather than draining it dry. Getting the response right will add value to supply chains across the UK and generate the expertise needed for future projects around our coastline.”
