New data shows collapse in green investment – but the private sector tells a different story
Green investment in the UK fell 56% last year, reaching its lowest level in a decade, according to a government report released this week by the Environmental Audit Committee. The report cited new data from Bloomberg New Energy Finance which revealed that investment fell to $10.3 billion last year from $23.4 billion in 2016. According to the Financial Times, MPs have called the drop-off in investment a ““dramatic and worrying collapse”.
This is a disappointing reversal of previous trends which saw the UK at the forefront of green investment. Between 2009 and 2017, the proportion of Britain’s electricity generated from low-carbon sources doubled, and for the first time, during Q1 of 2018, more energy was generated from Britain’s wind farms than from its nuclear power stations. But many now fear that Britain is on the verge of losing its position at the vanguard of environmental progress.
However, despite the alarmist nature of such reports, the picture is more hopeful when it comes to private sector investment in green innovations. Indeed, the considerable volume of investment in green start-up technology is perhaps a more useful barometer of the future of green investment in this country. Groups such as Green Angel Syndicate, the only angel syndicate in the UK specialising in green investments which supports early stage technology companies to develop solutions towards more sustainable use of global resources, instead report an exciting acceleration in activity, innovation and investment.
For example, Green Angel Syndicate is advancing the UK’s claim as a leading investor in wind generation through its latest investment in a new concept for generating small scale wind power, a design pioneered by Spinetic Energy Limited. Historically, utility scale wind turbines have got larger and larger in order to create economies of scale, but Spinetic has developed the ‘Wind Panel’, a low cost device which is easy to deploy and which GAS expects will do for local wind energy generation what photovoltaic panels have done for solar energy.
This is just one example of where private green investment is becoming increasingly influential and telling a different story to the recent negative reports of government under-funding. Green Angel Syndicate’s Director, Nick Lyth, said, “The poor UK performance at government level in investing in our green economy to meet our targets under the Paris agreement places even greater importance on private sector initiatives. This is where Green Angel Syndicate is leading the way through investments which are making a difference to the global population – it is entrepreneurialism that makes the world safer and more secure for future generations.”
About Green Angel Syndicate:
- Green Angel Syndicate is the only specialist green angel syndicate in the UK, made up of a network of smart investors who are committed to the transition to a greener economy. We support early stage technology companies developing products and solutions specifically for a more efficient and sustainable use of global resources.
- If you want to find out more about becoming a green angel, contact Nick Lyth at firstname.lastname@example.org