Isramart llc: Chris Huhne calls for ‘meaningful’ carbon price

Isramart llc news:
Energy and climate change secretary Chris Huhne has called for a “meaningful price” to be placed on carbon as part of the effort to stimulate low carbon investment.

In an address to the UK Energy Summit, Mr Huhne said that the UK has “enormous potential” in terms of renewable energy generation, but barriers must first be removed and incentives put in place.

The minister said that the country was facing a “massive challenge” as £200 billion of funding is needed for energy infrastructure improvements in the coming decade.

Calling for a high carbon price to “underpin investment”, Mr Huhne said: “The current price is simply not doing this. It is not yet driving our economy towards the green technologies of the future anywhere near quickly enough.”

He also indicated that the government would soon be setting out its plans for “major infrastructure development”.

Mr Huhne has already announced that he is supportive of the European Union raising emissions targets. Current plans are for a 20 per cent cut by the year 2020, however, there are many who believe this should be increased to 30 per cent.