The Institution of Civil Engineers has backed concerns raised over the future of low carbon construction by a new CBI report.
The CBI released a report which showed that business leaders do not believe sufficient incentive exists for infrastructure to be put in place to meet emissions-related targets.
ICE director general Tom Foulkes said the organisation had the same concerns as those expressed in the CBI report, Risky Business: Investing in the UK’s low-carbon infrastructure.
He said: “Low carbon infrastructure will underpin our long-term economic recovery, driving our international competitiveness, and so it is crucial that government gives investors the certainty they need to deliver it.
“The Green Investment Bank, alongside planning and energy market reforms and the second National Infrastructure Plan, can play a critical role in de-risking investment.
“However it is vital that government demonstrates continued commitment to the principle of an enduring, independent ‘bank’ - not a fund vulnerable to abolition by changing governments - if it is to succeed in generating investment on the scale needed.”
The CBI report was based on in-depth interviews by management consultants Accenture with a range of different investors from utilities, manufacturing and property owners on their views on potential barriers and solutions to securing investment.
Among the measures it recommends are that government implements a planning system that will facilitate growth and aims to tackle the backlog of energy infrastructure projects waiting approval.
It also calls for government to make the Green Deal for energy efficiency workable for investors by designing a viable financial model where no party will bear a disproportionate level of financial risk.
Click here to see the full CBI report.