A government advisory organization said that the UK is falling behind other wealthy countries in terms of developing new technologies for energy, and this hampers the creation of green jobs in the country.
The Committee on Climate Change, a statutory body that provides emission reduction advice, said that the UK used up only 0.01% of GDP on energy in 2007, which is the latest year wherein comparative data is available, whereas Japan spent 0.09%, France 0.05%, and the US 0.03%
In 2009, the government spent about £550 million of public money for low carbon technologies. Only about £260 million of this money was used on energy.
The committee also quoted the International Energy Agency, saying that investment on energy should be two to five times more than the current levels so that climate targets can be met.
Furthermore, the committee called on UK’s government to focus on six areas, namely: wave and tidal power, offshore wind, carbon capture and storage, electric vehicles, smart grids and meters, and aviation.
The advisory group warned that without support from the government, an array of low carbon technologies will be trapped in a point termed as “valley of death,” a situation that the private sector isn’t willing to take the risk of investing in.
