Should All Investment In Fossil Fuels Be Removed

Should All Investment In Fossil Fuels Be Removed Image
The energy industry should remove all investment in fossil fuels, according to the Centre for Alternative Technology.

Alex Randall, spokesman for the group, which searches for globally sustainable and ecologically sound technologies, said that legislation must be introduced "to stop new developments of the most polluting forms of energy generation".

Instead, businesses should be investing more funds in types of renewable energy, he added.

"Whether the market alone will produce enough development of renewables is debatable," the expert noted, but said that the UK will also need "massive government investment in renewable energy infrastructure".

His comments come as the Aldersgate Group of green organisations stated that the lb1 billion Green Investment Bank would need a further lb4-lb6 billion of private investment to be successful.

"lb1billion alone without being topped up from any additional proceeds is in danger of being at a level where it can scarcely make enough difference to have the impact that is intended," it said.