In 2024, the forecast for total support on fossil fuels in the UK stands at 14.56 billion USD, up from the actual figures of 2023. This upward trend is expected to continue, with support rising to 16.41 billion USD by 2028. The year-on-year increase between 2024 and 2025 is approximately 3.2%, and this pace remains fairly consistent annually. Over the five-year period, the compound annual growth rate (CAGR) is anticipated to be steady, reflecting continued support for fossil fuel sectors amidst transition pressures.
Future trends to watch for include potential policy shifts towards renewable energy incentives, technological advancements in alternative energy, and societal pressure to reduce carbon emissions, which might lead to adjustments in these forecasts.
