LONDON - A new report has said that oil and gas producing countries face a multi-trillion-dollar hole in their government revenues as the world cuts back on the use of fossil fuels.

The report, published by the think tank Carbon Tracker, says some countries could lose at least 40% of total government revenue, adding that its data should serve as a “wake-up call” to oil producing countries and global policymakers.

The British Prime Minister Boris Johnson has pledged to “level up” Britain through a “Green Industrial Revolution” aimed at creating thousands of jobs while tackling climate change.

What are the key aims in a ten-point plan?


According to the Gov.UK website, “the prime Minister’s ten points, which are built around the UK’s strengths, are”:

- Offshore wind: producing enough offshore wind to power every home, quadrupling how much we produce to 40GW by 2030, supporting up to 60,000 jobs

- Hydrogen: working with industry aiming to generate 5GW of low carbon hydrogen production capacity by 2030 for industry, transport, power and homes, and aiming to develop the first town heated entirely by hydrogen by the end of the decade

- Nuclear: advancing nuclear as a clean energy source, across large scale nuclear and developing the next generation of small and advanced reactors, which could support 10,000 jobs

- Electric vehicles: accelerate the transition to electric vehicles, and transform the national infrastructure to better support electric vehicles. An investment of £1.3bn will see the rollout of charge points for electric vehicles in homes, streets and on motorways across England

- Public transport, cycling and walking: make cycling and walking more attractive ways to travel and invest in zero-emission public transport of the future
Jet zero and greener maritime: support difficult-to-decarbonise industries to become greener through research projects for zero-emission planes and ships

- Homes and public buildings: make homes, schools and hospitals greener, warmer and more energy efficient, whilst creating 50,000 jobs by 2030, and a target to install 600,000 heat pumps every year by 2028.

- Carbon capture: become a world-leader in technology to capture and store harmful emissions away from the atmosphere, with a target to remove 10MT of carbon dioxide by 2030, equivalent to all emissions of the industrial Humber today

- Nature: protect and restore the natural environment, planting 30,000 hectares of trees every year, while creating and retaining thousands of jobs

- Innovation and finance: develop cutting-edge technologies needed to reach these new energy ambitions and make the City of London the global centre of green finance