James Close

Commenting on #GBEnergy in the Financial Times. The announcement of a partnership between The Crown Estate and GB Energy is good news for the future of #renewables in the UK. We are particularly encouraged by the commitment to reform the policy framework to reduce the time it takes to bring offshore wind projects to fruition, as this is something UKSIF and our members have been calling for for some time. Cutting project timelines is crucial to get investment flowing into UK renewables again, after many investors have been historically put off the UK because of unworkably long project wait-times, effectively starving the UK of investment.   The decision to have the public sector take on additional early development work is a positive move that will reduce risk for developers and attract greater private investment. One barrier this will not solve is the current inadequacy of our #gridconnections, which we know remains a major barrier to investment. UKSIF stands ready to support the implementation of these reforms and to work with government, industry, and investors to ensure the UK becomes a global leader in offshore wind. https://lnkd.in/e-n4-wUS

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Spot on. Without a clear, renewables led industrial strategy, most countries have little chance of achieving #netzero targets. The private sector has a very important role but its government that needs to step up #netzero #renewables #industrialstrategy #ukgovernment #scotlandgovernment #greenfinance

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**DEMAND SIDE MATTERS** Introduced to the work of https://www.creds.ac.uk/ through the Energy Transition Show. In energy discussions we often see supply side questions getting more air time - and that's certainly true for investors looking at the angle. We love tech solutions, and the next big technology. But when thinking about the UK energy system and its links to a productive economy, we can't ignore the demand side of the question. I think we all say this from time to time, maybe because we feel we should. But the overwhelming message from the 5 years of work from CREDS is pretty mind blowing: "With a combination of these strategies, energy demand can change a lot. In recent decades, improvements in energy efficiency have contributed more to carbon emissions reductions all supply side changes combined. Going forward, we have shown that UK energy demand can be halved by 2050." Any work on investment in the energy system in the UK needs to actively consider demand reduction and efficiency. https://lnkd.in/eBQW9mq4

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We strongly support the establishment of a future-facing NESO with energy demand at its heart. Debates over policy, politics, and prices have lost sight of who the system of turbines, wires, and pylons exist for. Without energy demand in the room, it is impossible to devise solutions and design markets that meet its needs. Today, we call on Government, the regulator, and ESO to start implementing the necessary changes to governance needed to make NESO a success for energy demand. Transforming a private entity into a public body with immense power and influence over the future of critical national infrastructure cannot, and should not, be underestimated. It requires a reformation, not an evolution.

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One of the major structural factors impacting government financing is the massive scale of public money needed to ensure the transition to a carbon neutral economy. How are trends in government debt issuance evolving as they relate to sustainability? Alex Caridia, head of public sector markets at RBC Capital Markets and Heather Taylor, FCA, FCPA, partner, climate change and sustainability at EY, join OMFIF lead economist Taylor Pearce to discuss. The conversation is a part of OMFIF’s workstream on the Future of public money project. #sustainability #governmentbonds

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