DENMARK TO END ALL OIL & GAS EXPLORATIONIndustry Insights
Denmark continues it's perseverance towards fighting climate change by announcing the end to all new oil and gas exploration. According to estimates by the energy ministry it is thought the decision will cost the country about £1.1bn.
Dan Jorgensen, Minister for Climate, Energy and Public Utilities told the BBC "We want to be climate neutral in 2050. And if we are to have any credibility in that, then this is a necessary decision.
Denmark's targets to be climate neutral by 2050 and to reduce its greenhouse gas emissions from 1990 levels by 70% by 2030 have been passed into law. On Friday Boris Johnson announced the UK's aim is to cut carbon emissions by at least 68% of what they were in 1990 by the end of 2030.
The move in Denmark could cost around 4000 jobs in the oil and gas industry although as part of the new plan, Mr Jorgensen says new job creation will come from the country's growing off-shore wind sector.
As a renewable energy talent solution business, Light Source People welcome the move away from fossil fuel and to further growth in renewable energy, as specialists in understanding their customers, the wider industry and the motivations of the people within it, this can only help deliver more innovative market solutions within the sector.