UK falls behind in green business

The Sunday Times
March 1, 2009
Danny Fortson

BRITAIN must set a clear policy and regulatory framework to encourage investment in green industries if it is not to fall further behind America and China, industry leaders have said.
According to The Sunday Times’s inaugural Green Rich List, Britain is home to only 10 of the world’s top 100 entrepreneurs in new industries such as wind energy, electric cars and clean coal.
America is top of the table, with 35 of the richest green entrepreneurs. After Barack Obama unveiled plans last week to invest $15 billion (£10.5 billion) a year in clean-energy companies and programmes, the ranks of green US tycoons are set to grow.
China, with 17 on the list, is more focused on being the workshop for the green revolution, with solar-panel factories and wind-turbine makers cropping up across the country, but it has begun developing technologies as well.

For Britain to improve its green fortunes, a clear government stance is required. Tom Murley, chairman of the newly created Energy, Environment and Technology group of the BVCA, the private-equity trade body, said: “The government needs to provide a consistent view on the policy and implementation. The 2003 energy white papers said no to nuclear; last year it said yes.
“There needs to be less talking and more doing, and clarity that there will be continuity on broad policy if there is a change in government.”