UK 'not receiving enough low-carbon investment'

People tasked with environmental analysis have heard that the UK will not meet its low-carbon targets with the current levels of investment.

A study completed by the Confederation of British Industry (CBI) has discovered that the power sector could be miles away from securing the required funding to develop low-carbon energy sources.

In order to meet the "ambitious emissions reduction targets" set by the government, the study showed the power sector would need £150 billion of private investment over the next 20 years.

Accenture completed in-depth interviews with a range of industry leaders during the research and managing director of the UK and Ireland branches Omar Abbosh believes the government needs to do more to promote lower risk investments.

Chief policy director for the CBI Katja Hall added: "We know the UK needs a balanced energy mix to cut emissions and grow the low-carbon economy, but the big question now is how we pay for it."

Earlier this month, the Department of Energy and Climate Change announced it would provide support to developing nations in reducing their own carbon emissions.

Posted by Claire Manning