Government has shown today the right leadership in legislating for a 2050 net-zero target. Britain has an opportunity to cement its global leadership in reducing emissions, and to create new economic opportunities as a result. Industry and government must now work together to make the huge progress needed in the decarbonisation of heat and transport, building on the good work which has begun. As the first major economy to legislate for net-zero, we should all now get behind the UK’s bid to host the UN Framework Conference on Climate Change (UNFCC) COP26 conference next year.”
The FTSE 100 has extended earlier gains but only just, and is now up 0.37% at 7,212.17.
Standard Life Aberdeen, the fund management group, is leading the blue chip risers, up 2.2% at 270.75p.
National Grid is the biggest faller, with its share price down 4% at 782.8p.
The FTSE 250 is up 0.75% at 19,087.54. Construction group Kier's share price has gained 9.1% at 284p. Metro Bank dominates the largest losers, down 6.3% at 725.75p.
The Nemo Link - the £600m electricity connector between Britain and Belgium - is to become operational at the end of the month.
That's according to the National Grid which has been working on the project with Elia, the Belgian power grid operator Elia.
It can carry one gigawatt of electricity - enough to power one million homes - and operates via subsea cables, allowing the two countries to trade electricity.
The announcement follows a successful testing period, where active power transfers have been taking place between Belgium and the UK.