A growing share of the UK’s energy sector jobs, investment and innovation are shifting abroad, a new report has found.
The 41st Energy Transition Survey has revealed that of more than 100 companies, two-thirds expect to increase their headcount overseas in the next five years, undermining Britain’s ability to deliver net zero.
Companies expect the majority of their work will be overseas by 2030, with the tipping point coming in about 2027-28, according to the report, published by Aberdeen and Grampian Chamber of Commerce (AGCC).
As fossil fuel production is wound down, Aberdeen has in recent years been hoping the North Sea oil and gas industry's engineering expertise can be repurposed to make it a centre for green energy.
But according to the report almost half said staff were already leaving the UK to work in other energy regions, caused by weak domestic confidence, uncompetitive policy and a lack of viable projects.
Dubai has emerged as one of the top destinations for UK expats, making it one of the world’s fastest growing wealth hubs. A representative for AGCC said of the energy jobs leaving the UK that “anecdotally, we hear a lot are heading to Dubai”.
Russell Borthwick, chief executive of Aberdeen and Grampian Chamber of Commerce, said the findings of the survey are “a wake-up call for policymakers” in the UK.
“We are training a world-class workforce and building the technology to lead the energy transition, but that talent and investment is increasingly being deployed overseas.
“You cannot deliver net zero by exporting your industrial base. If we continue to erode competitiveness through incoherent energy policy and excessive taxation, we risk offshoring the entire supply chain that is essential to the UK’s future energy system.”
The survey was produced in association with financial analysts Johnston Carmichael and clean energy company D2Zero.
Mark Stewart, head of energy, infrastructure and sustainability at Johnston Carmichael, said: “Uncertainty and inconsistency in UK energy policy are now bigger threats to investment than commodity prices or global market trends.
“We are seeing a growing trend of skills, capital and capability moving overseas, particularly in areas like offshore wind, carbon capture and decarbonisation technologies.”
A UK Government representative said it “recognises that oil and gas production in the North Sea will be with us for decades to come and is committed to managing the energy transition in a way that supports jobs in both existing and future industries”.
Tamkeen's offering
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- Option 2: 50% across three years
- Option 3: 30% across five years
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
The%20specs
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Benefits of first-time home buyers' scheme
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- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
RESULT
Australia 3 (0) Honduras 1 (0)
Australia: Jedinak (53', 72' pen, 85' pen)
Honduras: Elis (90 4)
MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
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The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
