Green energy should be topping the list of priorities to boost growth and ensure success, Prime Minister David Cameron told business leaders in a speech earlier this week.
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“To those who say we just can't afford to prioritise green energy right now, my view is we can't afford not to,” he said at the official launch of the Department of Energy and Climate Change's (DECC) new Energy Efficiency Mission.
The programme is designed to further promote the government's range of energy efficiency policies.
“Making our energy sources more sustainable, our energy consumption more efficient and our economy more resilient to energy price shocks – those things are a vital part of the growth and wealth that we need,” he continued.
He said that the businesses that are best protected from energy price “shocks” will enjoy the most success, and warned that only the world’s greenest economies will be eligible to compete in the global economic race in the near future.
“Make no mistake, we are in a global race and the countries that succeed in that race, the economies in Europe that will prosper, are those that are the greenest and the most energy efficient,” Cameron said.
“Energy consumption is set to grow by a third over the next two decades alone. It is the countries that prioritise green energy that will secure the biggest share of jobs and growth in a global low-carbon sector set to be worth $4trn by 2015,” he added.
Rhian Kelly, director for business environment policy at the CBI, said she expected many firms to welcome the Prime Minister’s speech.
“Businesses know that going green can boost growth,” she said. “Our research shows that supporting the UK's low-carbon economy with the right policies could potentially add £20bn to GDP by 2015.
“Britain must maximise these opportunities to become the leading destination for low-carbon investment and strengthen our exports of green goods and services to the rest of the world.”
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