Edie reported that the Financial Times was informed that UK’s Business & Energy Secretary Mr Kwasi Kwarteng, who is backing Ms Liz Truss in the leadership race, is unlikely to work with colleagues to make the decision before the new Conservative Party leader is in post and chooses a cabinet, following Mr Boris Johnson’s resignation. The Financial Times had reported that last week Tata Group has threatened to shut down Port Talbot steel plant if British government does not agree in the next year to provide GBP 1.5 billion of subsidies to help it reduce carbon emissions. Tata Group Chairman Mr Natarajan Chandrasekaran told the Financial Times “A transition to a greener steel plant is the intention that we have. But this is only possible with financial help from the government. We have been in discussions over the last two years and we should come to an agreement within 12 months. Without this, we will have to look at closures of sites.” Mr Chandrasekaran’s statement reportedly came as a shock to unions representing steelworkers, who were unaware of this intention previously. Unite and other unions have voiced concerns about the climate and job impact of simply offshoring steel production to economies such as China, but the priority very much seems to be the jobs rather than the climate. Trade union Unite’s national officer Mr Tony Brady said that Port Talbot must be maintained at all costs given the number of jobs it supports. Tata Steel UK runs the Port Talbot plant and employs nearly 8,000 people across all its operations. As one of Britain’s largest industrial groups it is among the biggest emitters of carbon dioxide. Executives have been in talks with the government about decarbonization plans, but discussions have stalled.
Edie reported that the Financial Times was informed that UK’s Business & Energy Secretary Mr Kwasi Kwarteng, who is backing Ms Liz Truss in the leadership race, is unlikely to work with colleagues to make the decision before the new Conservative Party leader is in post and chooses a cabinet, following Mr Boris Johnson’s resignation. The Financial Times had reported that last week Tata Group has threatened to shut down Port Talbot steel plant if British government does not agree in the next year to provide GBP 1.5 billion of subsidies to help it reduce carbon emissions. Tata Group Chairman Mr Natarajan Chandrasekaran told the Financial Times “A transition to a greener steel plant is the intention that we have. But this is only possible with financial help from the government. We have been in discussions over the last two years and we should come to an agreement within 12 months. Without this, we will have to look at closures of sites.” Mr Chandrasekaran’s statement reportedly came as a shock to unions representing steelworkers, who were unaware of this intention previously. Unite and other unions have voiced concerns about the climate and job impact of simply offshoring steel production to economies such as China, but the priority very much seems to be the jobs rather than the climate. Trade union Unite’s national officer Mr Tony Brady said that Port Talbot must be maintained at all costs given the number of jobs it supports. Tata Steel UK runs the Port Talbot plant and employs nearly 8,000 people across all its operations. As one of Britain’s largest industrial groups it is among the biggest emitters of carbon dioxide. Executives have been in talks with the government about decarbonization plans, but discussions have stalled.
