Former Chancellor of the Exchequer and hedge fund boss Rishi Sunak became the new leader of the governing Conservative Party on Oct. 24. The following day, at the invitation of King Charles III, he stepped into the role of Prime Minister of the United Kingdom.
Sunak is taking the helm at a critical moment as the country spirals into recession amid soaring inflation. Domestic gas prices shot up 96 percent year over year in September, and electricity prices soared 54 percent. The same month, shopping basket costs for food and non-alcoholic beverages surpassed 14 percent, representing the biggest price spike for food in the UK since 1980.Sunak reinforced that intention in August this year by saying he’s committed to helping the UK reach its goal of net zero emissions by 2050.
And while Sunak claims that tackling inflation is his main priority, he’s also putting the country’s progressive green energy agenda at the top of the list. He openly shared his ambition to make Britain the world’s first net zero emissions financial center during the COP26 summit in November 2021.
