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WWF - Ministerial support ‘vital’ for investor confidence

Responding to comments by the deputy Prime Minister Nick Clegg yesterday, WWF said that long-term policy signals and ministerial support were crucial for boosting private investment in renewable energy and the green economy.

David Nussbaum, chief executive of WWF-UK said: “Investor confidence is vital to build a sustainable and resilient economy, so it’s essential that senior members of the government give consistent vocal support to renewables, green jobs and the low-carbon economy."

“I’ve heard from renewable energy investors that negative comments from senior politicians on going green impact directly on their ability to raise funds for investment in the UK.

“The notable exception is Scotland where, as a recent PricewaterhouseCoopers report 1 highlighted, strong support from the devolved government has been a key factor in Scotland becoming a major player in the renewable energy sector.”

Responding to comments by energy and climate change secretary Edward Davey, Keith Allott, head of climate change at WWF-UK, said: "Ed Davey’s entirely right about the need to rebalance our economy away from a dependence on oil and gas. If the UK is serious about tackling climate change then renewables, and wind energy in particular, will have to play a significant role.

"The cost of renewables is steadily declining and will come down further if industry has the confidence to invest and expand in the UK. But if the UK chops and changes its energy policy this confidence will disappear and we’ll miss a promising source of growth and new jobs.”

Notes to editors:

1. BBC News: Renewables growth 'to continue' in Scotland during 2012, 30 Jan 2012: http://www.bbc.co.uk/news/uk-scotland-16782023

2. DECC press release: Going for growth means going for green, 6 Feb 2012: http://www.decc.gov.uk/en/content/cms/news/pn12_007/pn12_007.aspx

For further information, please contact:
George Smeeton, Tel: 01483 412 388, Mob: 07917 052 948, email: GSmeeton@wwf.org.uk

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