The Low-Carbon Economy – Moving from Stick to Carrot

EEF [UK Manufacturers’ Organization]
http://bit.ly/1F8BiFb

[Business Green] Carbon reduction policies are too focused on red tape that pushes up energy prices and damages Britain’s international competitiveness, according to a new report released today by manufacturers’ organisation EEF.

The report is being released in response to an ongoing government review into carbon taxes and business energy efficiency policies announced by Chancellor George Osborne during the Summer Budget

[Process Engineering] “The current system of energy taxation is too complex and is hurting Britain’s competitiveness,” said Paul Raynes, EEF director of policy.

The government should be offering “carrots and incentives” to install energy saving equipment, invest in unexplored low-carbon technologies ahead of the curve, and become leaders in the low-carbon markets, the Low Carbon Economy – From Stick to Carrot report suggests…

“Government should use the energy taxation review as an opportunity to step back, and make some bold decisions that we believe can reduce energy costs as well as cutting back on carbon emissions, and improving the environment,” Raynes said.

As part of its report, EEF has suggested the government introduces an incentive scheme that it says could deliver ten times as much new green investment as the Carbon Floor Price and the CRC scheme.

“Greening heavy industry can’t happen without rolling out radical new technologies that are still far from fully developed, or financially viable, and doing that quickly,” Raynes said.

“If we can’t put roller skates under the new green technologies, existing tax policies will undermine these fundamental British industries to no environmental gain in the long run,” he added…

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