The UK government must do more to help companies wanting to invest in renewable energy technology access the required finance or risk missing its carbon targets, a study warns.
A poll of more than 300 senior energy specialists by Siemens Industry and the Energy Institute found only 33% thought it was possible for Britain to meet its 2050 energy targets to reduce emissions by 80% while 55% thought the target would not be met.
When quizzed on their experiences with British banks, respondents cited “significant blockages to liquidity for companies wanting to become more energy efficient” with 88% saying banks and the financial sector were either “not interested or provided little feedback”.
Approximately one in 10 had “positive feedback” but less than 1% actually received finance.
Green finance a headache in UK