Investment in clean cheap energy falls - 22/04/2009
The amount spent in the UK on green power generation by energy suppliers and other bodies fell in the first quarter of 2009, reports the Financial Times.
A study from consultancy firm New Energy Finance reveals that Britain spent just £138 million over the three-month period and meant the UK settled for 15th place in an international table of nations.
All eyes will fall on the Budget due to be announced later today (April 22nd) by the chancellor, Alistair Darling, to see whether new investment will help Britain satisfy its long-term green obligations.
Joan Ruddock, climate and energy minister, told the paper: "We're serious about cutting our emissions, which is why as part of the Budget the UK will be the first country to set out legally binding carbon budgets limiting emissions for the next 15 years."
Figures from Cambridge Econometrics reveal that carbon emissions are likely to fall by three per cent both this year and next, although this will be due to the recession rather than through increased investment in a low carbon economy.
The recession has prompted several energy firms to reduce their investment in green projects.
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