E&Y say government deterring green investment

E&Y blames ‘political infighting’ for UK losing its pull on clean energy investors – Greenpeace comment

Commenting on Ernst & Young’s latest Renewable energy country
attractiveness index
which places Britain behind US, China, Germany, and
Japan as a magnet for clean energy investors, Greenpeace UK Deputy
political director Joss Garman said:

“This damning report lays bare the economic cost Britain is paying for the
government’s internal squabbling and foot-dragging on clean energy. Investors
demand certainty, but what ministers have offered them is double-talk and mixed
messages. As other major economies like the US and China are embracing clean
tech and reaping the rewards by attracting investment, the UK is failing to
capitalise on its position as a world leader in green tech.

“Cameron wanted to get rid of the ‘green crap’ and intervened to stop the
changes to his energy law that would have boosted green investment across our
Islands. Now we know new jobs and industry that could have helped rebalance our
economy will go to other countries instead.

“Britain could still reverse part of the damage by backing French and German
proposals for a binding 2030 renewables target for Europe. Thurday’s summit
with the German Chancellor gives David Cameron the perfect opportunity to send
a strong signal that the UK is open for green business.”


Key quotes from the report:

“The UK continues
to be hampered by political infighting and mixed policy measures. A series of
offshore wind project cancellations also helped take it down to fifth place.”


“Lobbying for the EC [European Commission] to reject calls for a binding
2030 renewable energy target, and yet another close defeat for a proposal to
set a 2030 UK decarbonization target in 2014 rather than 2016, has also knocked
investor confidence in the Government‘s commitment to a low-carbon future.”



Stefano Gelmini

Greenpeace UK, Press officer

mobile: 07506 512 442

twitter: @gelmo1981

skype: gelmo1981

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