EIA praises community based investment
- Published on Thursday, 29 September 2011 10:44
- Posted by Scott Buckler
The Ethical Investment Association, the UK’s leading green and ethical investment association for financial advisers, has welcomed the government’s plans to continue EIS/VCT relief for community-based renewable energy investments
The government proposals, announced in a consultation that closed yesterday, represent a rethink since Chancellor George Osborne announced in the March budget that this tax relief would be withdrawn from all investments eligible for Feed-In Tariff (FITs) payments for renewable energy generation.
UKSIF, the sustainable investment association, has also welcomed the move in a joint response with community energy organisations to the consultation paper.
Julian Parrott, Chair of the Ethical Investment Association said: “We see increasing client interest in investments that may help local communities to be more resilient against rising energy prices while, at the same time, offering an acceptable investment return. This tax relief enables them to consider an exposure to renewable energy schemes managed by community-based organisations. Advisers can deepen client relationships by raising awareness of these new investments. It makes sense for clients, communities and the environment.”