First UK marine energy park sets sail in the South West - 23 Jan 2012 - News from BusinessGreen

Greg Barker to name region as the first of a series of parks designed to acclerate development of wave and tidal technolog

A huge area running from Bristol to Cornwall and the Isles of Scilly will today be named as the UK's first designated zone for the development of marine energy. Climate change minister Greg Baker will announce the South West Marine Energy Park (MEP) and launch a prospectus outlining how the public and private sectors will work together on the project during a visit to Bristol. The prospectus says the South West MEP will make it a priority to secure additional incentives for business investment including, business rate reductions, higher levels of capital allowances, Regional Growth Fund and other enterprise grants, inward investment, and access to the Green Investment Bank. It will also look to coordinate port and infrastructure development to support the industry's growth. As well as national and local government, the Crown Estate, local enterprise partnership Regen SW, the Universities of Plymouth and Exeter, and marine energy testing site Wave Hub will all be involved in the marine Park.

Sir Mervyn King urged to tackle 'carbon bubble' risk - 20 Jan 2012 - News from BusinessGreen

A group containing some of the UK's most influential green business leaders and campaigners has written to Bank of England governor Mervyn King, calling on him to address the "systemic" risk to financial systems presented by the potential over-valuation of high carbon companies. The open letter is signed by 20 leading green investors and campaigners, including Paul Abberley, chief executive of Aviva Investors London, James Cameron, founder and vice-chairman of Climate Change Capital, Solarcentury chairman Jeremy Leggett, former chief scientist Sir David King, and Conservative MP Zac Goldsmith, as well as the directors of Greenpeace, WWF, the Green Alliance, and the Climate Group. It argues that in his new role as the chair of the recently created Financial Policy Committee (FPC) King has been tasked with "identifying, monitoring and taking action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system" and, as such, the committee should "investigate how the UK's exposure to high carbon investments might pose a systemic risk to our financial system".