The Government’s “mood music” must be right to snare investment in green technology. For the UK to pin down money from global funds, DECC needs to be showing plans for consistent policy, according to Dr Matthew Brown, Head of Climate Change at the CBI.
Speaking on a panel about the Green Investment Bank at The Carbon Show in London today, Dr Brown said: “We need investment, and the money is out there, there’s plenty sloshing around in global pension funds, it’s just about how you attract it.”
He said that the Green Investment Bank, the UK’s flagship funding body that will lend £3billion to firms to develop green technology, has a big role to play in this, alongside reforms to planning and the electricity market.”
But he added: “There’s another side to getting investor confidence which is more tangible, it’s the mood music that you get out of Government and part of that is about consistency of messaging. People knowing that they can see that the Government knows the direction it wants to go in and sticking to that over time.”