More investment needed for Scottish green targets

July 9th 2010

More funding is needed for carbon reduction in Scotland if proposed targets are to be met, it has been claimed.

Scotland is currently aiming to slash CO2 emissions by 42 per cent by 2020, moving up to 80 per cent in 2050.

However, a recent study conducted by PricewaterhouseCoopers and supported by Strathclyde University's Fraser of Allander Institute revealed that a substantial boost in investment is required.

According to the report, there is an increasing possibility that the targets will not be met without additional funding and significant technological development.

The report said the figures and dates had initially been deemed feasible due to Scotland's "exceptional natural resources for renewable energy".

"However, without an enormous increase in the investment in renewables infrastructure, significant technological development, and co-ordination, drive and co-operation between the public and private sector, allied to the finance to support all of these, there is a very real risk that these targets will not be met," it read.

It is thought that Scotland will require more than £10 billion of the £33 billion which Ofgem has estimated is needed across the UK for carbon reduction purposes.