Venture capitalists have called for the creation of a Green Investment Bank (GIB) to accelerate private sector investment in support of the UK’s 2020 and 2050 low carbon, renewable energy and energy security targets.
A paper written by the British Venture Capital Association, published this week says that creating a low carbon economy will entail vast investment. For a start, a minimum £200 billion needs to be invested in power generation and grid investment to 2020; more money will be required to back technologies and companies in energy efficiency, smart grid and new forms of transport and power generation.
The paper proposes the primary objectives and operating principles of a GIB, and argues that action is needed quickly.
To read the full, original article click on this link: Science|Business UK VCs call for creation of Green Investment Bank
Author: Science Business
