peter mandelson interview
Peter Mandelson, the Secretary of State recession threaten our position in the policy would be rolled out in their re-
for Business, was keen to promote that upturn. spective areas of the economy.
line when we asked him to outline the “UK companies have already made a The Low Carbon Industrial Strategy
drivers he saw underpinning the transi- good start in the low carbon sector. We launched by BIS sets out the govern-
tion to a low carbon economy. are the sixth largest low carbon economy ment’s commitment, and explains how
“With the right investment now, UK in the world, with a market worth over it will remove any barriers that prevent
businesses can take the lead in this £106 billion, employing around 880,000 UK firms from maximising the potential
emerging economy, securing new jobs people when including the supply chain. of the low carbon economy. Peter
for our workers and realising opport- “The challenge now is to build on Mandelson was realistic in his ap-
unities for companies across the whole these strengths through the further proach. “Inevitably, the recession has ex-
supply chain.” strengthening of the regulatory frame- acerbated the decline in private sector
Worthy goals, but should this change work to ensure private investors can in- venture capital investment in low carbon
of culture within the business commu- vest confidently by clearly being able projects across the EU: there was a reduc-
nity not wait until the green shoots that to predict returns.” tion of over 50% between 2007 and 2008.
Ministers claim to have seen have been “I appreciate it is difficult for inves-
substantiated before executives risk
straying from a survival course?
Strategy for business
tors to plough money into technologies
that are in their infancy - technologies
Lord Mandelson accepted that carbon Back in July this year, when DECC an- that in many cases still need to undergo
reduction was not high on every busi- nounced the UK Low Carbon Transition significant testing and development.
ness agenda, but argued that the time Plan, the Department for Business, In- But it is these innovative products and
was still right for action. “I understand novation and Skills (BIS), and the De- solutions that will help this country climb
these are immensely challenging times partment for Transport (DfT) published out of recession and enable our businesses
for every business, but we cannot let this strategies in parallel to explore how the to stay ahead of the competition.”
Peter Mandelson argues that the challenge now is to strengthen the regulatory framework to ensure
private investors can invest confidently in the low-carbon sector by “clearly being able to predict returns.”
The Informed Executive
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