Clean energy firms might be lobbying the wrong ministers when they seek market reforms to help drive green investment. Rather than focusing on energy policies, they should be seeking to reform the “institutionally fossilist” financial markets.
That is the stark message contained in a new report by Bloomberg New Energy Finance (BNEF), which uncovered a litany of biases in financial regulation that tilt markets in favour of conventional energy and could potentially hold back the flow of investment into renewable energy technologies.
A white paper, published this week, identified seven major financial regulations which appeared to be dissuading investors from backing clean energy investments that tend to require high upfront investments.
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