“Russia-Ukraine crisis impact energy prices”

Sustainability could limit businesses’ exposure to Russian gas and oil, MP Bim Afolami said

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The escalating crisis between Russia and Ukraine fuels a new surge in energy prices.

ELN spoke to Bim Afolami, MP for Hitchin and Harpenden about the impact that Brexit, Covid-19 pandemic and the Russia-Ukraine war have on energy prices and businesses’ energy usage: “I don’t think that Brexit particularly impact energy prices but I think Covid and Ukraine for complex economic reasons and for the fact that Putin invaded a neighbouring country mean that I think energy prices are going north very quickly and the faster that people get their heads around that the better.”

Mr Afolami delivered an opening address at biz4Biz Sustainability Conference.

Talking about the need for businesses to embrace sustainable practices for their operations, Mr Afolami who is also Chair of APPG for Renewable and Sustainable Energy added: “Even if you are not particularly bothered about climate change, I think you should be, but even if are not, you’ve got to recognise that this is economically the right thing for you to do, act in a more sustainable way, use less energy, make sure the energy that you use is renewable and that will mean that it’s more secure because it will be in Britain or in a country very nearby that is much less exposed than maybe getting oil or fossil fuels from the Middle East or Russia.

Watch the video to listen to the entire interview.

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