The UK Sustainable Investment and Finance Association (UKSIF) has warned that Conservative calls to overhaul the UK’s energy policy would dent Britain’s credibility and put billions of pounds of private investment at risk.
The intervention comes in response to Tory proposals to rewrite the country’s energy approach, following an embargoed report from the think tank Onward.
James Alexander, chief executive of UKSIF, said the UK’s climate commitments had already secured substantial private investment for the economy and that tearing them up would send the wrong signal to international capital.
“The UK’s climate commitments have already secured billions of pounds of private investment for our economy.
“Ripping these up would dent our credibility, making the UK a less attractive destination for capital while undermining our long-term energy security.
“Amid growing international competition for clean energy, we can’t afford to put this investment at risk and lose out on the economic growth and jobs that come with it.”
UKSIF represents more than 300 members across the sustainable investment and finance sector, including asset managers, pension funds, banks and research providers.
A recent membership survey by the organisation found that 87% of respondents expect both global and UK-specific investment in renewable energy projects to increase.
