Highlights of Scottish Low Carbon Investment Conference

image 122 92111 Highlights of Scottish Low Carbon Investment Conference

The Scottish Low Carbon Investment Conference took place earlier this month (October) in Edinburgh. There were many noteworthy addresses, ideas and innovations discussed. For Scots, it’s all the more poignant given the recent agreement between Alex Salmond, the Scottish Parliament First Minister and David Cameron, the UK Prime Minister, regarding the vote to allow them to decide if they want to separate from the the United Kingdom and become an independent country. Some say that the enthusiasm the Scots have for windpower and renewable energies, are being blunted by the UK blowing hot then cold over the same issues. Yet the UK Government still says that it intends to  meet their EU carbon reduction targets.

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David Cameron
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First Minister for Scotland; Alex Salmond

We’ve selected two highlights at the Conference:

The former US vice-president Al Gore has strongly praised Scotland for the lead it has taken on renewable energy. The Nobel peace prize winner, now an environmental campaigner, set out his case for taking action to stem climate change. He said that scientists were overwhelmingly backing concerns that carbon dioxide emissions were the cause of disrupted and extreme weather. He said that it was disappointing to see that politicians in many places were “paralysed”. He went on to praise Scotland’s “inspirational leadership” praising First Minister Alex Salmond for his role in setting some of the world’s most ambitious targets for cutting carbon emissions and “sparking inspiration” elsewhere. He also said-

“One of the areas of particular expertise in Scotland is turbines and the reason you have companies from all over the world coming here is because of the engineering tradition, the expertise, the intellectual property protection and you’re going to see the lots and lots of jobs.”
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Al Gore

Turning to how to fund the future, Gore, who chairs a US investment fund, said there should be incentives, tax breaks and changes in governance to increase long-term thinking in investment. Speaking personally, I wish Al Gore would be invited to come to address the Westminster Parliament!

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Ignatio Galan

Another speaker at the Conference was UK: Iberdrola chairman, Ignatio Galan. He reaffirmed the company’s investment plans for the UK but tellingly, joined the growing list of wind industry CEOs asking for the UK Government to create the right regulatory environment for investment. However he confirmed that his company still planned to invest £12 billion, onshore and offshore, in the UK over the next ten years. He thought that gas plants should be invested in, but to provide back-up to wind, not as a primary source of energy. His key point was that Energy Market Reform in the UK was needed  to “create a favourable atmosphere for investment”.  Similar points have been made about the UK Government’s commitment to renewable energy from wind turbine manufacturers including Vestas, Siemens and Gamesa. Maybe they still are, but they need to show their colours and fly the green flag a little more vigorously!

The UK has to replace around 25% of its network by 2020 and is looking to provide much of this capacity through offshore wind. However, there have been political issues in the coalition government between the Department of Energy and Climate Change and the Treasury. These included Liberal Democrat energy minister Ed Davey removing responsibility for renewables from his Conservative junior minister.