CBI demands green investment

6 July 2012 Business lobby group the CBI has called on the government to recognise the potential of the green economy and invest more heavily in environmental technology.

Research from the organisation has claimed green investments could add £20bn to the UK economy by 2015, but warned current uncertainty over the government’s commitment to the sector could see Britain miss out on important investment.

“The so-called ‘choice’ between going green or going for growth is a false one,” said CBI director general John Cridland. “We are increasingly hearing that politicians are for one or the other, when in reality, with the right policies in place, green business will be a major pillar of our future growth.


“Get our energy and climate change policies right, and we can add £20bn extra to our economy and knock £0.8bn off the trade gap, all within the lifetime of this Parliament.”


The UK’s green market accounted for £122bn in 2010-11, the report found, representing around 8% of GDP.


Among the recommendations of the report to maintain the growth of the green economy is for the Green Investment Bank to be given power to raise funds from the capital markets “as soon as is fiscally possible”. it also suggested priority projects should be eligible for direct government investment to help them get off the ground.

 

This page was last updated on:
20 February 2018.

thumb

Fáilte Project Ireland 2040

The industry has welcomed (Fáilte) the ambition of the Irish government’s National Development Plan, albeit with a healthy degree of scepticism as to its implementation

thumb

‘A Great Journey’

Phillip Hall, MUFG’s head of structured finance for EMEA, tells Paul Jarvis how the bank is evolving to thrive in the changing PPP world

register

Register now to get un-restricted access to all sections of the website.

Want to see more first? Try our free preview...