The FT reports: “New permits, which will be awarded in the first licensing round in nearly three years, would do little to alter Britain’s overall dependence on imports, which is expected to grow over the next three decades even as demand for hydrocarbons is falling.” Separately, the FT reports that “Odey Asset Management and a number of top funds committed to reducing greenhouse gas emissions have invested in British fracking company IGas Energy, as they take advantage of the UK government’s decision to lift the ban on the controversial process”. The Financial Times reports that the UK regulator will this week announce a new licensing round “prioritising” the fast-tracking of new oil and gas in the North Sea. It comes as there is continued reports on Truss’s support for fossil fuel expansion in the UK. Separately the Daily Mail also reports that Conservative minister Tobias Elwood has said it was “wrong” for Truss to advise the King to stay away from COP27 and that the monarch should “consider going anyway”. However, the Daily Mail reports that Prince William will also not be attending the summit. On the same day, environment minister Mark Spencer told an event that the King has “other priorities” since ascending the throne and suggested that his son, Prince William, would be better placed to attend COP27, the Guardian reports. On Sunday, cabinet minister Simon Clarke denied that Truss ordered the King to stay away from COP27 and claimed that “the decision had been mutually agreed by the government and the palace”, the Press Association reports. “With mutual friendship and respect there was agreement that the King would not attend,” a palace spokesperson tells BBC News. BBC News reports that Buckingham Palace has confirmed that King Charles, who has long been an environmentalist, will not attend COP27. Truss, who is also unlikely to attend the Sharm el-Sheikh gathering, objected to the King’s plans during a personal audience at Buckingham Palace last month.” The newspaper adds that the move comes “amid suspicion that the government may water down, or abandon, its environmental target to achieve ‘net zero’ by 2050”. The newspaper reports: “He had intended to deliver a speech at the meeting of world leaders in Egypt. In a frontpage exclusive, the Sunday Times reports that King Charles “has abandoned plans to attend next month’s COP27 climate change summit after Liz Truss told him to stay away”.
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