Rhiannyd Griffith – Federated Hermes Infrastructure
As a responsible infrastructure investor, representing the interests of UK pension scheme members, we encourage the UK government to use COP26 to make firm directional policy commitments. These should be grounded in considered reflection of the science in areas of new generation energy infrastructure, clean transport, and sustainable cities.
There is investor appetite to fund opportunities in emerging energy sectors, such as hydrogen, CCUS and energy storage, as well as more traditional renewable generation.
The challenge is that neither consultations, nor isolated initiatives, have provided the whole economy coherence, direction, transparency, and certainty required to unlock investment, across the broadest possible spectrum of capital.
The scale of change required adapt and mitigate the impact of climate change requires thousands of micro-decisions across public and private actors. These can only be made in a joined-up, mutually-consistent manner when direction from the top is clear.
We, and our companies, have muted expectations that hopes of hard spending commitments, more aggressive national emission reduction targets, and global carbon pricing will be met. Putting institutional infrastructure capital to work at pace requires governments to be bolder, act faster, and more confident about technology choices than we’ve seen to date.