Oil and gas still accounts for 80% of the UK's energy mix, and that will only decrease to 70% by 2031, as a new report finds Britain remains behind on its net zero goals.
Fresh DNV analysis finds the country slacking on plans for offshore wind farms, nuclear power stations, solar farms and other low carbon energy sources needed to replace oil and gas and path the route to net zero.
It also expects a "sizeable proportion of vehicles", especially commercial ones, to run on fossil fuels in 2050. It adds that aircraft will continue to "emit significantly" as a result of the "slow penetration of low-carbon fuels by 2050".
Hari Vamadevan, UK regional director for energy at DNV, said: “The evidence in our 2024 UK ETO is clear - without immediate action the UK will fail to deliver on its climate commitments, fall behind in the global race to decarbonise and miss out on many of the benefits that switching to a low-carbon system will bring.
“But, by putting the correct policy levers in place, there is still time for industry and government to deliver a transition that is good for business, good for consumers and good for the planet.”
UK 'desperately' needs detailed transition roadmap
The report predicts that in the UK's annual emissions will amount to 125 million tonnes of carbon dioxide equivalent (MtCO2e) in 2050, which would only represent an 85% reduction relative to 1990 levels, not the 100% reduction the UK has legislated for.
DNV determines that with the right incentives, a 100% reduction remains achievable through swift deployment of technologies such as wind, solar, CCUS and hydrogen.
The UK's current offshore wind expansion target, as set out by Rishi Sunak, is to increase capacity from 14 gigawatts (GW) to 50GW by 2030. That means installing one or two turbines every day for six years.
However, after then-energy secretary Grant Shapps offered a low minimum price for power from new windfarms, construction was delayed due to companies not being prepared to build them.
Mr Vamadevan added: "The required climate objectives and decarbonization targets are in place, but the onus is on the UK Government to put a clear, ambitious strategy in place to make them a reality.
"What the UK desperately needs is a detailed transition roadmap to chart the country’s journey to the low-carbon energy system of the future – only then can businesses invest with confidence to drive the energy transition.
"The UK Government has always claimed to be a leader in the global net zero transition; now it is time to deliver on those claims. The ball is in the court of the policymakers."