Isra-Mart srl: Government must act on low-carbon investment

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The government needs to act quickly to secure the future of low-carbon investment, it has been claimed.

According to the Confederation of British Industry (CBI), there must be a number of energy and planning reforms put in place within the next six months.

It suggested in its new No Time to Lose: Deciding Britain’s Energy Future report that failure to do so could see energy security and emissions targets undermined.

The government has promised £150 billion of private sector investment in low-carbon infrastructure, but the CBI is worried that the facts need to be clarified.

“This investment is essential for the UK to achieve a secure, sustainable and cost-effective energy mix that includes renewable sources, nuclear power and fossil fuels,” the organisation said.

It called for the government to tackle delays in the planning system, as well as provide more details on the electricity market reform, its renewable energy policy and the implications of the Emissions Performance Standard.

The body also wants the development of carbon capture and storage technology to be sped up, with all these measures taken before February 2011.

The Department for Business, Innovation and Skills recently announced that business secretary Vince Cable visited the north-east of England to see how low-carbon technology investment has created jobs in the region.