Investors call for new energy bill

19 November 2007
Calls are being made for the US congress to follow the UK's lead and draft a climate change bill, according to a new report.

F&C announced that is has signed a letter to leaders of the US senate and house of representatives urging them to consider legislation aimed at reducing the country's dependence on oil and promoting "clean" energy.

The firm said that "regulatory uncertainty" and limited regulations have "discouraged" investment in renewable forms of energy generation, prompting calls for an energy bill that will set new incentives and targets for the use of such technologies.

Terry Coles, co manager of the F&C Climate Change Opportunities Fund, said: "Legislation to tackle climate change and boost investment in renewable energy technologies is on the rise as global regulatory regimes recognise the need to act quickly to address this dilemma."

In the UK, environment secretary Hilary Benn recently said that the government would look to amend its draft climate change bill following a public consultation, changing several targets for reducing carbon dioxide emissions.

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