Green investment measures: comments from the legal sector
Leading lawyers respond to government’s plan to spend £2bn on new green homes grant – with £1bn of funding to improve energy efficiency of public buildings.
Nicole Bigby, Partner and General Counsel (EMEA & Asia), Bryan Cave Leighton Paisner:
“The Chancellor’s ambition to level up on infrastructure with today’s announcements of investments in new green homes and energy efficiency in public buildings is a welcome first step in building a more sustainable, inclusive, greener recovery.
“The UK is uniquely placed to build on this commitment and expand its scope – not only in response to active business engagement around transitioning business models and generating sustainable goods and services to boost innovation, productivity and jobs – but as part of its global leadership in the lead up to COP26 in Glasgow and as the UK assumes the Presidency of the G7 in 2021. Setting out a structured framework for policy and economic engagement with business to fully leverage these opportunities would be a valuable next step in driving a resilient recovery.”
Tim Smith, Partner, Bryan Cave Leighton Paisner:
“These measures should be welcomed. Our most troublesome challenge has always been maintaining the requisite supply of new homes, and this is where the focus has been. Too often large-scale proposals for new housing have foundered on environmental and sustainability concerns. But the debate must not be focused solely on the sustainability credentials of new housing stock. The impact of unsustainable existing stock greatly overshadows the sustainability problems of new build. Put this right and we can make a significant positive contribution to the sustainability agenda.”
Helen Fry, Associate, BDB Pitmans:
“The Chancellor’s announcement of £3bn for environmental upgrades to housing and public buildings as part of the government’s attempt to “build back better” after Covid-19 is a pragmatic move, but more is needed. Clearly the Government is now alive to the economic opportunities offered by a green recovery, but its commitment pales in comparison to those of other European countries – Germany, for example, has announced a climate-focused stimulus package of some €36bn. If the Government wants to develop an internationally competitive green economy, it will have to do more. It is to be hoped that announcements will follow on investment in green technologies, a renewed environmental focus in national infrastructure planning, and plans to develop new transport norms in our cities (for example by boosting cycle infrastructure and introducing Clean Air Zones).”
Kindly shared by Lawyers from Bryan Cave Leighton Paisner and BDB Pitmans
