Government told of industry concern over lack of ‘green’ finance
The Government has been advised by Siemens Industry and the Energy Institute that much more needs to be done to instil confidence in the UK’s ability to meet its energy targets after a recent survey suggests there is a significant lack of access to finance for companies wanting to invest in green technologies to reduce emissions and comply with EU and UK legislation, writes efficientenergy.net.
In a joint poll of over 300 senior energy specialists across the UK, only a third (33 per cent) thought it was possible for Britain to meet its 2050 energy targets to reduce emissions by 80 per cent, whilst over half (55 per cent) of respondents thought the target would not be met. The remaining 12 per cent were undecided.
One of the most significant issues facing businesses has been accessing the required finance to invest in energy efficient technologies, says Siemens. When asked ‘what has been your experience of British banks supporting companies who want to invest in energy efficiency technologies to reduce their costs and save energy?’, the results demonstrated significant blockages to liquidity for companies wanting to become more energy efficient.