Anthony Chant, Investment Director at OnePlanetCapital, a sustainable investment house focused on tackling climate change, comments on the ONS low carbon and renewable energy economy figures:
“The impact of Covid-19 muddies the waters so employment and turnover in the low-carbon economy should be taken with a pinch of salt.
“We’re seeing lots of evidence of movement and witnessing first-hand the emerging growth occurring in the low carbon and renewable energy sectors, as a vindication that the transition to a green economy is starting. The green economy might have been talked about for a long time, but we’re seeing it come to fruition with impact. These figures are simply a reminder that a lot more work remains to be done.
“The tangible commitments made in recent years to reach net zero, mostly from European countries but also worldwide, are key triggers for emerging growth.
“In the start-up world, we are seeing an unprecedented acceleration in companies coming to market in response to the emerging green economy. VC investment levels in these areas are also fast-increasing.
“As a result, we’re seeing huge interest in EIS investing for the green economy. Corporates are starting to make tangible investments and actions, which consumers are quickly responding to.
“But it’s a marathon and there is still a long way to go. COP26 was not definitive enough and much more investment is required to fast-track the green economy. We know that unprecedented change is required to our global economy. The UK’s commitment to global warming by 2050 alone requires a paradigm shift in the UK economy and enormous amounts of investment into the businesses of the future.
“We are on the verge of a green industrial revolution and the world is waking up to the substantial changes needed to tackle the climate issues we face. We only have one planet and now it’s time to get involved and make a difference for our collective future’’.
OnePlanetCapital’s Sustainable EIS Fund targets investments that tackle C02 emissions and supports businesses with a positive environmental impact. The fund closes for investors on 4th March.