Letter to PM seeks Treasury support for low-carbon economy

Written by Andrew Holt

As the UK looks across from sporting success to future economic success, the UK Sustainable Investment and Finance Association (UKSIF) has joined over 200 companies, trade associations and NGOs in signing a letter – convened by the Renewable Energy Association – which calls on Prime Minister David Cameron and Deputy Prime Minister Nick Clegg to ensure Treasury support for the ‘green economy’.

The letter states: “The potential contribution of the renewable energy sector to national prosperity and security is tremendous... We therefore hope you will ensure the Treasury actively supports departments charged with meeting the legally-binding renewable energy targets, and delivering green growth and jobs”

“...Constant reviews and policy uncertainty deter investment and risk adding to costs. It is widely appreciated that investment in green technologies requires a stable and evidence-based policy framework. This in turn requires cross-Government support. We urgently need you to deliver a united 'Team GB' effort to secure the UK’s place as a world leader in green skilled jobs and technology.”

Penny Shepherd, UKSIF chief executive and one of the letter’s signatories, said: “Government leadership is urgently needed to ensure the stable energy policy landscape that is necessary to stimulate investment in the low carbon economy.

"The UK has the potential to be a global leader in providing green skilled jobs and technology but this requires a more ‘joined-up’ approach and support from across Government departments, including the Treasury."

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