Chris Stark, former head of the UK’s Climate Change Committee, has raised concerns that the UK is losing green investment opportunities to other nations.
Speaking to the Financial Times, Mr Stark pointed out Prime Minister Rishi Sunak‘s retreat on net zero targets and the UK’s inadequate response to President Joe Biden’s Inflation Reduction Act (IRA) as key reasons.
Chris Stark observed a shift in focus among developers and capital markets away from Britain, once a frontrunner in renewable energy, towards more appealing destinations.
Despite the UK government’s assertion of attracting £300 billion in low carbon investment since 2010, Mr Stark underscored the importance of initiatives like the IRA in prompting businesses and investors to prioritise green projects elsewhere, notably in the US.
Copyright © 2024 Energy Live News LtdELN