The UK government has unveiled an ambitious strategy to reach net-zero greenhouse gas emissions by 2050 that would significantly curb reliance on oil and natural gas without phasing them out completely. 

The nearly 400-page plan details policies and proposals that build on a “Ten Point Plan” released last year by Prime Minister Boris Johnson. The proposal comes a few weeks ahead of a key climate conference in Glasgow, Scotland and “will very likely pressure other developed countries to raise their own climate ambitions,” said analysts at Evercore ISI. 

The “Build Back Greener” roadmap would decarbonize the power system so that by 2035 all of the UK’s electricity would come from low carbon sources, “subject to security of supply.” The policies would accelerate...