
Eco-fuel factory's future in doubt as ABF boss blasts Government's ‘wretched' green policy
Click to share on X/Twitter (Opens in new window)
Click to share on Facebook (Opens in new window)
The boss of Associated British Foods slammed 'wretched' Government green policy for threatening a factory's future.
ABF yesterday revealed that the viability of its Vivergo bioethanol site in Hull is in doubt.
Sign up for Scottish Sun
newsletter
Sign up
5
The boss of Associated British Foods slammed 'wretched' Government green policy for threatening the future of its factory that produces eco fuel bioethanol
Credit: Image is copyrighted to Ed Robinson.
It said current policy gives preferential treatment to international players over domestic ones.
Bioethanol has become an increasingly significant ingredient in fuel as part of the green energy transition.
ABF's chief exec George Weston told The Sun the East Yorkshire plant is losing up to £3million a month.
He said: 'If it closes, we would be importing a chemical that we don't need to and have the capability to make at home.'
An update also revealed ABF launched a strategic review of its Allied Bakeries firm, which includes Kingsmill.
It means the bread brand could be sold.
Mr Weston refused to comment but said ABF was 'dealing with' the issues facing the bakery business.
Separately, its sugar business has been impacted by a slump in wholesale prices which knocked the entire group's profits by more than a fifth — to £692million.
Abf is also grappling with the threat of President Donald Trump's tariffs in its fast-growing US business.
Around half of its fashion stock is made in China — which is facing a 145 per cent tariff — and the rest comes from Bangladesh, Indonesia and Turkey.
Keir Starmer's deranged drive for Net Zero with eco-zealot Ed Miliband is a threat to UK's national security- here's why
Mr Weston said ABF was waiting to see whether the tariff rates were 'the final ones' — and it is sending fewer shipments into the US for the meantime.
Despite the volatility, ABF is still planning to open 18 new US stores and has signed leases.
ABF's interim CEO at Primark is Eoin Tonge, who was parachuted into the role following the abrupt exit of fashion boss Paul Marchant last month after complaints of 'inappropriate' conduct.
Mr Weston said Mr Tonge had given the business some breathing space to recruit a replacement.
Gymshark's grip
Athleisure brand Gymshark is cutting almost 300 jobs, as US tariffs are making it keep a tight grip on costs.
The sports-focused brand is putting 296 workers at risk of redundancy, it emerged.
5
Athleisure brand Gymshark is cutting almost 300 jobs, as US tariffs are making it keep a tight grip on costs
5
Gymshark faces US tariff pain as Trump's trade duties hit its imports from China and Vietnam
Ben Francis, who started the company from his parents' garage in 2012, said: 'It's no secret that the retail sector is feeling the strain from macro-economic pressures.
"As such, we are ensuring we have a heightened focus on controlling our expenditures.'
About 40 per cent of Gymshark's sales are from the US, and it sources products from China and Vietnam, making it exposed to Donald Trump's new trade duties.
At the same time, it is creating 168 jobs to 'drive future growth'.
Pre-tax profits fell in the year to July but it is mostly down to opening new stores. Revenues have grown for the 12th year in a row.
BP green boss exit at slump
The architect of BP's ill-fated green energy agenda has been pushed out after the company posted a halving in profits.
Sustainability chief Giulia Chierchia will leave in June and will not be replaced. Activist fund Elliott Investors had called for her removal.
5
BP green boss Giulia Chierchia is to exit in June after investor pressure and plummeting profits — with no replacement lined up
Credit: Getty
Chairman Helge Lund has already said he will step down next year after questions over his tenure and a revolt from a quarter of investors.
The energy giant is switching back to fossil fuels in a strategic U-turn hoped to revive its share prices and boost profits.
Yesterday, BP posted a 48 per cent fall in profits for the first three months of the year to £1billion — well short of analysts' forecasts.
The drop was due to lower profits from gas trading. It is also under pressure from a crumpling oil price.
Shares in BP fell by 2 per cent yesterday to 354.2p.
It has lost a third of its value in the past year.
Cryptic answer
Chancellor Rachel Reeves yesterday revealed plans to regulate crypto-assets.
She told the Innovate Finance summit that robust rules for currencies such as Bitcoin 'will boost investor confidence, support the growth of fintech and protect people across the UK'.
About 12 per cent of us now hold digital-only assets.
The financial watchdog has warned crypto investors that they risk losing all their money.
HSBC In tariffs warning
HSBC yesterday sounded the alarm that Trump's tariffs were already hitting the business — and threatening global growth.
The bank put aside £653million to cover a rise in bad loans as it expected 'heightened uncertainty' from consumers and businesses.
5
HSBC has sounded the alarm that Trump's tariffs were already hitting the business — and threatening global growth
Credit: Alamy
It said US tariffs could lead to 'lower trade volumes, investment, consumer spending and ultimately weaker global GDP growth'.
It also warned that fragmented supply chains would lead to inflation rising.
The bank predicted lending would be muted this year as it reported a 25 per cent drop in pre-tax profits to £7.1billion for January to March.
Boss Georges Elhedery said he was moving 'at pace' with a restructuring of the bank, which includes slashing staff costs by 8 per cent.
But he said the bank was entering the volatile market 'from a position of strength'.
Pure Gym is to open 70 more gyms in its goal to have 300 in the UK.
Annual revenues for the fitness chain grew 10 per cent to £605million, while earnings rose 16.6 per cent to £154million.
It reported 400,000 new members had joined in the last year.
3.8% leap in food inflation
Food inflation crept higher to 3.8 per cent last month — while the price of Easter eggs soared by 17.4 per cent.
Chocolate confectionery prices rose faster than any other category before Easter, figures by Kantar show.
But we still bought 0.4 per cent more eggs than last year.
However, some opted for burgers on the barbecue over roast lamb joints.
Retail bosses have warned prices will rise owing to higher staffing costs in the Budget.
Ocado is the fastest-growing grocer, with M&S food sales through the online grocer rising 14.4 per cent, Kantar said.
Asda was the only supermarket to suffer a slump.
But its 3.8 per cent fall was considerably better than the previous month's drop.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Guardian
6 hours ago
- The Guardian
New Zealand government sued over ‘dangerously inadequate' emissions reduction plan
Hundreds of top environment lawyers are suing the New Zealand government over what they say is its 'dangerously inadequate' plan to reduce emissions to net zero by 2050. It is the first time the country's emissions reduction plan has faced litigation, and the lawyers believe it is the first case globally that challenges the use of forestry to offset emissions. Lawyers for Climate Action NZ and the Environmental Law Initiative – two groups representing more than 300 lawyers – filed judicial review proceedings against the government in Wellington's high court on Tuesday. The groups have provided the Guardian with first access to the claim, which argues the government has abandoned dozens of tools to tackle emissions, failed to adequately consult the public, and too heavily relies on high-risk carbon capture strategies such as forestry. The government's plan was 'fundamentally unambitious' and a 'dangerous regression' for the country, Jessica Palairet, the president of Lawyers for Climate Action NZ told the Guardian. 'As it stands, the government's emissions reduction plan will carry huge consequences for our country. We don't take this step lightly, but the plan needs to be challenged,' Palairet said. The plan must be robust and transparent, in line with the country's chief climate law – the climate change response (zero carbon) amendment act – she said. In 2019, the Labour government passed that landmark climate legislation committing the nation to reducing its domestic carbon emissions to net zero by 2050 and meeting its commitments under the Paris climate accords. Governments are legally required to set an emission reductions plan every five years detailing how New Zealand will meet its greenhouse gas targets. The right-wing coalition government has committed to the 2050 net zero emissions target. Its first emissions reduction plan released in December – shows New Zealand is on track to reach emissions targets up until 2030, but will not meet the targets in five years after. The government said it will address those targets in 2030. The plan also says the country is also on track to meet its long-term emissions goal but climate experts warn the government's methods could end up derailing progress. The legal claim includes two primary challenges. The first argues the government tossed out dozens of credible climate policies – including the clean car discount and a gas transition plan – and did not adequately consult the public over the changes. The lawyers also claim that the government is relying on 'high risk' methods such as planting hundreds of thousands of hectares of introduced pine trees to offset emissions, and capturing carbon underground, with few alternatives to fall back on if something goes wrong. Some experts have warned achieving a net reduction in emissions primarily through planting trees is impossible to sustain in the long term, as forests could be destroyed though fire or extreme weather and do not store carbon for ever. Dr Christina Hood, the head of energy and climate policy consultancy Compass Climate, told the Guardian the government's emissions reduction plan was 'incredibly shortsighted'. Hood said there is an assumption that as long as New Zealand plants trees, it can emit as much as it likes, but warned that was a 'blinkered' approach that ignores the future. 'In our law … there's a responsibility to meet all of the targets, not just the current one.' While New Zealand's total contribution to global emissions is small at 0.17%, its gross emissions per capita are high. The country has also been among the world's worst performers on emission increases. Between 1990 and 2018, its emissions rose 57% – the second-greatest increase of all industrialised countries. Climate scientists and environment groups are worried the government's broader environmental agenda will derail the country's ability to reduce emissions and protect its unique species. Since taking office, the government has promised to restart offshore oil and has set aside $200m of its budget to invest in gas exploration. It plans to boost mineral exports to $3bn by 2035, at the same time it has slashed funding to conservation and climate initiatives. The controversial new fast-track law that is pushing through major infrastructure projects, including mining, has been described as 'egregiously damaging' for the environment and risks a path towards a greener future. The minister of climate change, Simon Watts, would not be commenting on the judicial review, as the matter is now before the courts, his office told the Guardian. The Green Party is backing the claim because the government's plan 'is not worth the paper that it is written on', its co-leader Chlöe Swarbrick told the Guardian. Climate litigation as a form of activism is gaining momentum around the world. In 2024 the high court found the UK government's climate action plan was unlawful, as there was not enough evidence that there were sufficient policies in place to reduce greenhouse gas emissions. Palairet hopes this case will force the government to come up with a new plan. 'The reason why we take a case like this to a court is to scrutinise and question whether the government statements match up with reality.'


The Guardian
10 hours ago
- The Guardian
Sizewell C power station to be built as part of UK's £14bn nuclear investment
The biggest nuclear programme in a generation will 'get Britain off the fossil fuel rollercoaster', the energy secretary, Ed Miliband, has said, announcing £14.2bn to build a new nuclear power station and a drive to build small modular reactors. The multibillion-pound investment at Sizewell C on the Suffolk coast, which has been long expected, will create 10,000 jobs and power the equivalent of 6m homes. Nuclear will be one of the key investments Rachel Reeves will champion at Wednesday's spending review, which the chancellor hopes will overshadow uncomfortable decisions for the government including the U-turn on the winter fuel payment and a major row over police funding. Miliband said the 'golden age' of nuclear investment was critical to the government's net zero goals, which will probably require a significant increase in electricity demand, and said that it would not detract from investments in renewables. 'I'm doing this because of my belief that climate change is the biggest long-term threat facing us,' Miliband said. 'The truth is that we have this massive challenge to get off fossil fuels. That is the central driving ambition of the government's clean energy superpower mission. We know that we're going to have to see electricity demand at least double, by 2050. 'All of the expert advice says nuclear has a really important role to play in the energy system. In any sensible reckoning, this is essential to get to our clean power and net zero ambitions.' The announcement comes as part of the £113bn of new capital investment Reeves will announce in the spending review that the Treasury hopes will be the key theme – and enough to stave off further disquiet over expected cuts to day-to-day spending. On Monday, it emerged that all departments had settled with the Treasury after a deal was done with the home secretary, Yvette Cooper, who was deeply dissatisfied with funding for policing. The Home Office could still be forced to cut the overall number of police officers in the aftermath of its lengthy spending review negotiations with the Treasury. Whitehall sources said the department had been asked to look at all options including reducing officer recruitment, which would mean an overall cut in the headcount. On Monday morning, Cooper was the last minister still to reach a deal, with reports suggesting greater police spending would mean a squeeze on other areas of her department's budget. On Monday afternoon, a source said that cuts to police numbers remained 'a possibility'. The mayor of London, Sadiq Khan, has also privately complained to the Treasury about Met police funding and a failure to finance any of the capital's key transport infrastructure requests. On Monday evening it emerged there were concerns that some English regions, including London, would lose money to support local economic growth and tackle poverty through schemes such as the UK Shared Prosperity Fund, Growth Hub funding and the Levelling Up Fund. A source close to the London mayor said: 'If the Treasury go ahead with this cut it would be incredibly shortsighted. They say they want economic growth but their actions in failing to invest in new infrastructure in the capital and cutting local growth funds will actually damage our economy, not improve it. 'They say they want regional mayors to be the drivers of growth but then remove their levers to achieve growth.' Earlier on Monday, Reeves formally announced plans to restore the winter fuel payment to all pensioners with an annual income of £35,000 or less, after a furious backlash to the government's most unpopular policy to date. While the reversal was welcomed by Labour MPs worried about pensioner poverty and the political toxicity of the issue, there were concerns the £1.25bn price tag would mean more tax rises or spending cuts this autumn. The green light for the development at Sizewell C marks the end of a long 15-year journey to secure investment for the plant since the site was first earmarked for new nuclear development in 2010. Campaigners argued the development of the site would be hugely expensive compared with investment in other energy sources and would create only short-term job opportunities. The government is also expected to announce the winners of a long-running competition on Tuesday for a bid to build one of Europe's first small modular reactor (SMR) programmes – a model that some in government hope could eventually attract private investment, especially from tech companies, which might build SMRs to power datacentres. FTSE 100 manufacturer Rolls-Royce is the favourite to be chosen to build the first British SMRs. Reeves will confirm the nuclear investment in her address at the GMB congress on Tuesday, including £6bn of investment to the nuclear submarine industrial base to deliver on recommendations in the strategic defence review The investment also includes £2.5bn over five years for research and development of fusion energy. Combined, the Treasury said they would be vital to the UK's energy security, replacing the UK's dependency on fossil fuel markets with homegrown power. 'We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis,' Miliband said. He said projects such as these were also essential for making the economic case to voters that the transition to net zero would not come at a cost to their families. 'There aren't enough industries in this country that provide good jobs at decent wages with strong trade unions. Nuclear is one of them. This is absolutely about delivering the kind of economic change right across the country,' he said. He said investment in fusion in Nottinghamshire would be directly on the site of the old West Burton coal-fired power station. 'That is the transition in action – from an old coal-fired power station to a new fusion prototype plant,' he said. So for climate, for energy security, for jobs, I genuinely think this is the right choice.' Miliband has argued for nuclear power to be a part of tackling the climate crisis since 2009. As energy secretary in the last Labour government, he said he was brought up in a family that opposed it, but he now saw it as vital. 'I didn't expect to have to become the energy secretary again to make it happen,' Miliband said. 'We've been too slow, definitely. This is also about accepting the role of government because this is going to be majority state-owned and state invested. 'Hinckley was done under a different model. That is a way of lowering the cost of capital, getting a return for the taxpayer. So I think there have been real missed opportunities in the last 14 years.' Sizewell C was one of eight sites identified in 2009 by Miliband as a potential site for new nuclear. The project was not fully funded in the 14 years that followed under subsequent governments. The Treasury said that combined with the ambition to build SMRs, it would deliver more new nuclear to the grid than over the previous half century by the 2030s. Campaigners opposed to Sizewell C said they believed the development would end up as 'HS2 mark 2' with years of overspending and delay. Alison Downes of Stop Sizewell C said: 'Ministers have still not come clean about Sizewell C's cost and, given negotiations with private investors are incomplete, they have signed away all leverage and will be forced to offer generous deals that undermine value for money.'


Daily Mail
13 hours ago
- Daily Mail
EXCLUSIVE 'One rule for them and another for us': Ed Miliband is blasted by Brits who are being forced to object to energy plant plans near their homes AGAIN - when minister's wife did the same recently...
Energy Secretary Ed Miliband has been accused of 'sheer hypocrisy' following his wife's objection to a block of flats near their liberal north London home. Householders in Walsall, West Midlands say it is 'one rule for them and another for us' as a potentially explosive energy system is set to come to green belt near them. It comes as prominent academics have raised concerns about the 'eco-friendly' stored energy system saying it could be 'the next Grenfell', with a nearby school also expressing fears. Robert Withers, of the Beacon Action Group, has blamed the rush to Net Zero by 2050 for the development's approval in Great Barr Village at Chapel Lane. He told MailOnline: 'It's an absolute disgrace that Ed Miliband and others in the Labour government are destroying our green belt - it's a tragedy. 'People who live in this conservation area can't even put a shed in the garden. But somebody can come along and say we'll plant this unsightly very, very noisy equipment in the middle of this field - and they'll get away with it. 'These are bombs and this one would be adjacent to a school. If this thing explodes the school children would have to all be evacuated.' The Battery Energy Storage System (BESS) is earmarked for a five-acre field surrounded by ancient buildings, woodland, and rare species of bats. There are fears the UK could see explosions bigger than the one picture above that destroyed the harbour in Beirut in 2020 It would operate using batteries to store electricity which would be released when needed, and has been described as 'crucial technology for integrating renewable energy sources'. The development, set to exist for 40 years, received over 700 objections. It was rejected by the local council but then approved on appeal by the planning inspectors. Householders are now combining their efforts to put a stop to it all together as they challenge the verdict. Last month it emerged Justine Thorton, a High Court judge and wife of Mr Miliband, had written to Camden Council in relation to a five-storey building proposed near their home. She cited concerns the design was 'too tall, too bulky and to dense given the context of the surrounding houses and the wider conservation area'. Among her fellow opponents were actor Benedict Cumberbatch, with many of the campaigners citing concerns around the multiple 'noisy' air source heat pumps due to be attached to the controversial development. Responding to their objections, Jenny Hulme, another opponent to the energy storage system in Walsall said: 'We have to make do and put up with a five-acre field full of Lithium-Ion batteries and the noise, pollution, destruction of biodiversity and wildlife and the ever present thought that the batteries will explode as they have done in many cases across the world. 'Due to the topography of the land, this ticking timebomb would also be built below a 1500+ pupil, plus staff, Secondary School, utter madness and a total disregard for Health and Safety.' She concluded: 'Would the Milibands live next door to that?' Another householder, Miss H B White, said: 'It would be good to think that everyone is treated the same - not one rule for them and another for us! 'The proposed building is next to a Grade II Listed Church, a woodland which has many species of wildlife including foxes, birds, bats (12 varieties) badgers and deer. 'The local school it just above the land which if there is a problem with the BESS will cause issues for the children and staff.' Staff at the school - the Matrix Academy - have come out to speak at recent meetings against the development. It comes as Professors from Oxford University are among those to issue words of warning against the energy storage systems. An article from 2021 authored by Dr Edmund Fordham, Dr Wade Allison and Sir David Melville read: 'The race for renewable energy driven by the 2050 Net Zero target requires energy storage and this is bringing large lithium-ion batteries into our day to day lives, close to our homes and work-places, on an unprecedented scale. 'Government failure to properly understand the dangers of insulating cladding resulted in the Grenfell tragedy. Government needs to get a firm grasp of the hazards of Lithium-ion batteries before there is a another 'green' disaster.' Mr Withers, who has lived in the area for fifty years, said: 'We are expected to live in fear of this potentially explosive device for the next 40 years knowing that any day or night this could blow up, despite scientists telling us they wouldn't live within one mile of it.' The 81-year-old added the article 4 conservation area - 'quality agricultural land - was unsuitable and that the '40 years figure' was 'ridiculous' as 'once you've lost it it's gone forever'. He accused Mr Miliband and his wife of 'sheer hypocrisy'. In Merseyside in 2020, one of three battery cabins on a site caught fire while a shocking eruption also occurred in Beirut, Lebanon that same year. South Korea saw 23 battery farm fires in just two years. Meanwhile a battery fire in Illinois burned for three days and thousands of residents were evacuated. The Labour Party's deputy, Angela Rayner, is currently spearheading the Government's efforts to overhaul planning rules to build 300,000 new homes a year. And the Labour Party said it planned to designate some previously untouched greenbelt land as 'grey belt' so they could get approval for more developments. The flats' developers have relied on Labour's updated planning rules to argue extra homes are needed and that local objections should not stand in the way of houses on brownfield sites Mr Miliband previously vowed to put the 'delayers' in their place as part of his green energy agenda. And Prime Minister Sir Keir Starmer has also been vehement in his criticism of 'nimbys' and 'blockers' describing himself as a 'yimby' - yes in my backyard. A spokesperson for the Planning Inspectorate said: 'As the appeal is part of a legal challenge we are unable to comment further on the details of the case. 'A key principle of the planning system is that each planning application and any subsequent planning appeal will be treated on its own individual circumstances and merits, in the light of the current local plan for the area, the National Planning Policy Framework and any other specific material considerations.'