Sustainable construction and renewable energy ''more attractive to business''

Posted by Andrew Marshall

With the introduction of the feeding tariff scheme, investment in sustainable construction and renewable energy is more financially attractive to businesses, according to one expert.

James Murray, editor of BusinessGreen.com, suggested that it is no longer just green businesses that want to cut their carbon emissions.

He said: ''The introduction of the feeding tariff incentive scheme in April has significantly changed the financial cache and it has certainly become much more attractive than it used to be.''

Mr Murray added that firms are more likely to start adopting sustainable construction and renewable energy as they have ''realised'' that they can make money as well as getting ''public relations benefits''.

The comments were made following research by InvestinCornwall, which said that UK business leaders believe the growth of Britain''s renewable energy sector is more important to the future economy than both finance and retail.

In his March Budget announcement, former chancellor Alistair Darling, said the government was setting up a new green investment bank, which will control £2 billion worth of equity.

He explained that the fund would focus first on investment in green transport and renewable energy, in particular offshore wind power, where Britain is already the world leader.