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Martineau Johnson backs gore's global initiative with finance call 13/03/2007 Entrepreneurs and investors have been urged to take the opportunities offered by the challenges associated with environmental issues. Roger Blears, senior partner at Birmingham and London law firm Martineau Johnson, made this call as he chaired a major all day seminar at a global conference on biofuels in Brussels. The keynote speaker at the event was former US Presidential contender Al Gore, who is now probably the world’s leading campaigner on the issue of climate change. Mr Blears, who spoke about financing business in the sustainable sectors, told the conference: “We are seeing much more interest in investing in companies with environmental aims and there are many more businesses with such objectives seeking financial backing. “Often, there is government assistance available through publicly funded initiatives and such finance can go hand in hand with private equity to move the business forward. “The case for action is self evident and there is already enthusiasm out there. However, I would like to see a greater commitment and even more interest from the entrepreneurial and investment communities in the UK.” Through a specialist team, headed by Mr Blears’ colleague Andrew Poole, Martineau Johnson has concentrated heavily in providing advice to those involved in renewable energy. Mr Blears explained that the fuels of the future are going to have to include biofuels and biomass, made from waste or agricultural products. “There are challenges, such as the high cost of production of biofuels, but governments, including the UK’s, are subsidising production. “In the future, there are going to be regulations which will force oil companies to sell renewable transport fuel but HM Treasury ‘s current delay in introducing enhanced capital allowances for biofuel plants, and its recent abolition of sideways loss relief, is unhelpful - UK biofuels should receive the same support as the UK film industry,” he said. “Green has never been a more popular colour for entrepreneurs and investment. The sector is already attracting financial backers from a wide range of backgrounds, and the seriousness of the issue of climate change will help to secure potentially huge returns for some businesses.” Mr Blears denies any suggestion that the boom in sustainable investment is comparable with the ill fated high tech boom of the late 1990’s, when billions of pounds were invested and lost in peddling untried technologies of dubious promise. “There is no parallel with the dot com bubble because the drivers for the sustainable sector development are much more robust and compelling” he said. “Consumer and corporate demand, backed by EU incentives, have created investment conditions that will reward both companies and investors in the years ahead. “Investment in areas such as biofuels, renewable energy and recycling will be seen as offering the prospect of long term and relatively stable investments with excellent returns in terms of income streams. “I want to see more emerging businesses with strategies aimed at overcoming the challenges of sustainability and I would also like to see even more financial backing for well managed companies with the right ideas and approach to innovation.” Mr Gore himself said: “I’m trying to get my country to change its policies, but in the meantime, the European Union is absolutely key to helping the world make the change it must.” For further information please contact Roger Blears on
roger.blears@martineau-uk.com |
