Energy and Climate Change Secretary, Chris Huhne, set out his vision on creating a “zero-carbon economy” by 2030 and spoke about the “Green Investment Bank” at a fringe held by the CBI.
The Green Investment Bank will attempt to reduce the monetary risk of those who invest in renewable energy. He also spelt out reasons why it’s necessary to finance renewable energy even in these tough economic times – the recent events in Libya have proved just how volatile the fossil fuel markets are.
Chris Huhne maintains that the UK’s goal of having 20% of the energy come from renewable sources will be achieved. He warned against complacency and pointed to China who have 6 of the world’s largest renewable energy companies.