Tuesday newspaper round-up: EV charging network, net zero targets, St James's Place

(Sharecast News) - Almost £1bn meant to help build Britain's electric vehicle charging network remains unallocated more than three years after it was first announced by Rishi Sunak. Promised in March 2020 before the first Covid lockdown in Sunak's early weeks as Boris Johnson's chancellor, the "rapid charging fund" was meant to support electrical capacity at motorway service stations. It was intended to help fund upgrades to the grid so that more electric cars can be rapidly charged at the same time. - Guardian Rishi Sunak faces further pressure over his U-turn on net zero targets, after the head of the world's energy watchdog said countries that water down green policies risked worsening the climate crisis and damaging their own economies. In its annual report, the International Energy Agency (IEA) hailed the gathering pace of the worldwide transition to cleaner energy, forecasting for the first time that demand for oil, gas and coal would peak before the end of the decade. - Guardian

London-based landlords are shunning investment in the capital to buy more lucrative properties in the North. Around two-thirds of London's buy-to-let investors who have bought properties this year have done so in other parts of the country. The North of England has received the greatest boost from the shift as it now accounts for 24pc of all purchases by London landlords. - Telegraph

St James's Place has suspended dealings in its property unit trust, the latest fund investing people's savings in UK commercial property to be gated as clients look to get out of the struggling market. The wealth manager's move means investors cannot take out or put in more money for the time being. The offices, warehouses and shops in the trust were last valued at £826 million. - The Times

Investors from the Middle East are choosing properties in London over rival international centres, given the "availability of diverse assets" in the capital. According to research from Al Rayan Bank, one of Britain's largest Islamic banks, London "remains the primary focus" for investors thanks to its combination of strong rental growth, surplus demand and its status as a "reliable location for safe returns". - The Times