News and Analysis | Richard Ravelin | September 14, 2022
For fracking-free investments speak to Path – we will make the right choices even if the Government doesn’t
The Prime Minister surprised the public last week when she announced an end to the suspension on fracking. PM Liz Truss removed the block in a bid to stifle rising energy bill costs in a move that puts her at odds with the Tories’ 2019 General Election manifesto.
Liz Truss told Parliament: “We will end the moratorium on extracting our huge reserves of shale which could get gas flowing as soon as six months where there is local support for it.”
The practice had been halted because it can carry significant environmental, social and health risks, but the new leader has been keen to give it the green light once more so long as it has ‘local support’.
But what in practice will this mean and why do we, at Path, take efforts to ensure all investments held with us are frack-free?
If we are to believe that fracking will be going ahead in some areas, the implications on that to the environment, people’s well-being and the local ecosystems could be huge.
There have been warnings issued that fracking results in millions of tons of methane being leaked into the atmosphere, that its relationship to airborne hydrocarbons can lead to health problems and that it can contaminate groundwater supplies. Its biggest problem, however, is that because of the way fracking works, there are fears from some that it can trigger earthquakes; this can happen when the high pressure from fracking causes the faults within the rock to slide.
But even if this doesn’t occur, the extraction of shale and gas is not a solution to the climate crisis nor a remedy for Britain’s energy problems. Our long-term energy security can only be secured if we invest more in renewable sources. This means, for example, investing in hydroelectric, wind, bioenergy and solar. Wind and solar are significantly cheaper than gas meaning the fact we can get them time and time again makes them a much better alternative. And this will also make sure we meet our target of reaching Net Zero by 2050.
That’s a rather ambitious aim, but one we can meet with the right action in place. We, at Path, are proud to be against fracking and in favour of more climate-friendly solutions to the planet’s problems.
Our service offers people an environmentally-friendly way of protecting our precious green spaces and making sure our ecosystems and wildlife don’t suffer under the weight of global gas emissions. We make sure any money you invest – whether that’s ISAs, a pension or something else – is put into actively preserving our planet and away from polluting industries. We’re on a green mission and we want you to be part of it.
For more about our investment strategy, and how our pensions and investments don’t include companies that frack, or support fracking in any way, book a free consultation with one of our advisors. They can attest to our green credentials and provide you with frack-free advice on your money.
As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.