Andrew Kaye, an energy partner at Deloitte, was speaking at the renewables 2011 conference, when he claimed market failure was more pronounced in the green industry, which slowed investment in environmental technology.
He said that if the UK hopes to achieve its reduction target of 20% by 2020 from 1990 levels then the Green Investment Bank must be operational by 1 April 2012.
"There are several financing issues acting as constraints on the level and speed of low-carbon investment, in particular both corporate and bank balance capacity and risk appetite for some green technologies," he said.
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