British energy firms are turning away from investing in the UK and into other markets more supportive of their sustainability goals, an investment group has warned.
The UK Sustainable Investment and Finance Association (UKSIF), which brings together more than 300 members with about £19 trillion in global assets under management, said the UK is falling behind other governments in the race to become the most investible market for low-carbon energy.
As part of a report released on Monday, UKSIF surveyed 100 business decision-makers in the UK energy sector representing £700 billion in turnover on current decarbonisation challenges.
It found 63% of British firms have moved or plan to move investments out of the UK to a more supportive market.
Nearly nine in ten (87%) of UK energy businesses agreed changes to policy are essential to make the UK an attractive investment location for green…
