British multinational oil and gas company Shell recorded its “highest-ever” annual profits in 2022 amounting to £32.2 billion, with only £1.86 billion estimated to be paid via the UK and EU’s windfall taxes for the year.
Net zero will require £33 billion of extra spending per year until 2050, according to new analysis from thinktank IPPR's Environmental Justice Commission.
Calculations made by HM Treasury of the cost of net zero have been labelled “slightly disturbing” by former leader of the Labour Party and co-chair of IPPR’s Environmental Justice Commission, Ed Miliband.
