G7, the Group of Seven wealthy nations recently returned support for investments in gas into its communique. While not thought of as a permanent step to become less reliant on Russian energy, the move has been received poorly by climate activists who state it could hurt world environmental goals.
Ethical investors in the UK often seek out professional investment advice in Chester, London and other financial hubs. Financial experts who are specialists in portfolio management like wealth managers help their clients to obtain assets that reflect their personal stance on environmental, social and governance issues.
At the recent April summit of the G7, ministers for climate eventually agreed that the option of gas investments could be an appropriate solution to help rectify the potential shortfalls in the market experienced since the Ukraine invasion by Russia and the ensuing disruption to international energy markets it has left in its wake.
At the G7 meeting in Hiroshima Japan, the group altered the language in its announcement to allow gas investments once more. It stated that the initiative was needed to accelerate the process of phasing out dependency on Russian energy adding:
“We stress the important role that increased deliveries of LNG (liquefied natural gas) can play and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis.”
However, this phase-out process would also depend on a reduction in gas demand and energy savings, correlating with the current Paris climate goals as well as accelerating developments in renewable energy technology and infrastructure, in order to ultimately provide clean energy security.
