These initiatives would support North Sea investments, tackle price instability, and protect companies on both sides of the channel from looming carbon border taxes.
Additionally, it proposes to enhance regional independence on green energy.
Competing with China
The authors suggest that the U.K. fully rejoining the North Sea Energy Cooperation Group (NSEC) would facilitate energy investments like carbon capture storage, energy interconnectors, and offshore wind farms, essential for the green transition.
Post-Brexit, the U.K. has engaged with the group through a memorandum of understanding, but full membership would simplify “technocratic planning challenges around grid build-out,” they argue.
The report also recommends extending the grace period on electric vehicle battery rules of origin, which has troubled car manufacturers since Britain’s departure.
It cautions that long-term battery production and the EV supply chain should be relocated as much as possible to Europe from China.
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