Green investment must be made clearer for firms

The government must provide more programmes and support to make it clear to businesses what is available to them and what direction the country is heading in with green technologies.

This is the view of Simon Bullock, economy campaigner at Friends of the Earth, who told businesses and the government that "the green technology sector[s] will be big drivers of future economic growth" and needs support.

He noted that if the government implemented a strategy such as the green investment bank, it would "send an extremely strong signal to business that this new government is very serious about the low carbon economy".

According to a report by the Work Foundation, businesses are reluctant to invest in a low carbon economy because there is too much bureaucracy and confusion over regulation.

It found that businesses and investors are reluctant to invest in the industry when there is not a clear commitment from government.

However at last week's Budget announcement, chancellor George Osborne pledged to create a green investment bank to advance green technologies.

Posted by Christopher Evans

Published on: June 29, 2010

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