Innovation 'crucial part' of UK's move to low carbon economy

13 October 2010
Innovation is a crucial part of the UK's move to a low carbon economy, climate change minister Greg Barker has said.

His comments come as the Department for Business, Innovation and Skills (BIS) urged more small and large businesses to export low carbon goods worldwide.

According to BIS figures, the global market for energy saving products will increase to more than £4 trillion by the middle of the next decade.

Currently, the UK is the sixth largest market for low carbon goods and services, including manufacturing electric vehicle charging pods, but Mr Barker urged for more to be done in order to keep up with developing nations such as China and India.

"Government policy must be robust to provide investors with the certainty they need to ensure the best, innovative ideas have every opportunity to flourish," he added.

However, Ed Moss, spokesman for the Manufacturing Institute, noted the difficulty that smaller firms are finding in accessing "quick-fix finance" in the short-term, which could affect the government's plans to move the UK into a low carbon economy.