UK urged to invest more in green economy

July 20th 2010

The UK has been called on to invest more heavily in low-carbon technologies, or risk being left behind.

The coalition recently pledged to become the "greenest ever" government, committing to the target of cutting emissions by 80 per cent by 2050.

However, there are concerns that Britain could fall behind on the low carbon road, after the recent announcement that investments in offshore wind, geothermal and biofuels are to be cut by £34 million.

According to the Committee on Climate Change (CCC), government spending needs to be maintained and significantly increased if the UK is to meet its targets.

CCC chief executive David Kennedy said the recent spending cuts implemented by the Department for Energy and Climate Change were an "unwelcome" development.

"However, it's very specific in the sense that it relates to this year, it relates to the £6 billion economy-wide cuts," he said.

"More important for us is the next ten years, and that's what our report focuses on."

He added that the UK's investment in green technologies is relatively low compared to other countries, noting that the US is currently spending around three times as much.