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European Investment Bank Provided £5.5 billion In UK Investment In 2016

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The European Investment Bank provided over £5.5 billion to a record number of UK projects in 2016, compared to GBP 5.6 billion in 2015.

New financing agreed in 2016 represented the second largest annual engagement since the start of EIB lending in the UK in 1973.

The broad ranging engagement by Europe’s long-term lending institution supported investment across key sectors. This included backing construction of new social housing, transforming schools and university campuses, new investment to improve transport, water and energy infrastructure across the country and helping the next generation of innovative companies to expand.

“Last year the European Investment Bank’s support for crucial investment across the UK helped to improve essential services, enhance key infrastructure and unlock economic opportunities across the country. This included record financing for social housing investment in any European country, and the largest ever loans to universities. These will strengthen world class research and innovation at universities in Oxford, Edinburgh, Swansea, Bangor, Newcastle and UCL. More UK households will get green energy following the single largest ever EIB support for investment in offshore wind, and London commuters will benefit from new trains.” confirmed Jonathan Taylor, European Investment Bank Vice President.

New investment by housing associations across the country to build and improve social housing was supported by more than GBP 1.3 billion of long-term European Investment Bank loans agreed in 2016. This included first time lending to housing associations in southern England and Northern Ireland, as well as through the Housing Finance Corporation. The EIB is currently finalising new support for social housing in Scotland and London.

When signed last year the GBP 280 million EIB loan to University College London Bank to develop the Bloomsbury and UCL East campuses and GBP 200 million EIB financing to strengthen Edinburgh’s reputation as a global leader in education and research represented the largest ever EIB support for investment by European universities. The European Investment Bank also agreed support construction of seven new secondary schools in Bradford, Harrogate, Keighley, Bradford and Huddersfield that will benefit more than 8,500 Yorkshire school children and replace outdated and redundant buildings.

In recent years new EIB backed investment to harness the UK’s offshore wind resources has provided clean energy and created thousands of skilled jobs across the country. New EIB support for renewable energy related investment it the UK last year included GBP 500 million to reinforce electricity transmission in northern Scotland to improve connections between wind, wave and tidal renewable energy schemes and the national power network. GBP 525 million was also provided to support construction of the Beatrice windfarm off the Caithness coast that represents the single largest support ever for investment in an offshore wind project by the European Investment Bank. Energy lending included support for the Humber Gateway OFTO, the tenth UK offshore transmission link supported by Europe’s long-term lending institution over the last five years.

Recent European Investment Bank lending has supported investment in new Eurostar, Intercity and London Underground trains, backing for Crossrail and the Northern Line extension, and new tram networks in Manchester and Nottingham. New transport lending last year helped to finance new commuter trains in East Anglia and 60 new trains for use on London Overground routes.

As part of continued support for transformational investment in UK water infrastructure GBP 950 million was provided to support construction of the Thames Tideway project and backing capital investment by United Utilities across the North West of England.

The EIB is directly owned by the 28 European Union member states, including a 16 per cent share held by the UK government.

Since 1973 the European Investment Bank has provided more than GBP 100 billion for investment to improve public services, key infrastructure and unlock new opportunities for companies across the country.

Environment

Consumers Investing in Eco-Friendly Cars with the UK Green Revolution

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Eco-Friendly Cars

The UK public appears to be embracing the electric car UK Green Revolution, as recent statistics reveal that more and more consumers are making the switch from petrol and diesel to electric or alternatively fuelled vehicles. The demand for diesel fell by almost a third in October compared to last year, whilst hybrid and electric cars rose by a staggering 36.9%.

Time for UK Green Revolution Change

So, what is the reason for this sudden change? This comes down to the current situation in the UK, which has led to people embracing eco-friendly technologies and automobiles. One of the main reasons is the Government’s clean air plans, which includes the impending 2040 ban on petrol and diesel automobiles. There is then the rollout of the T-Charge in London, the city of Oxford announcing that they will be banning petrol and diesel from the city centre by 2020 and various other big announcements which take up a lot of space and time in the UK press.

h2>Diesel’s Reputation

In addition to this, the negative publicity against diesel has had a huge impact on the UK public. This has led to a lot of confusion over emissions, but actually, the newest low emission diesel automobiles will not face restrictions and are not as bad to drive as many believe. Most notably, German brand Volkswagen has been affected due to the emissions scandal in recent times. It was discovered that some emissions controls for VW’s turbocharged direct injection diesel engines were only activated during laboratory testing, so these automobiles were emitting 40 times more NO in real-world driving. As a result of this and all the negative publicity, the manufacturer has made adaptations and amended their vehicles in Europe. Additionally, they have made movements to improve the emissions from their cars, meaning that they are now one of the cleaner manufacturers. Their impressive range includes the Polo, Golf and Up, all of which can be found for affordable prices from places like Unbeatable Car.

The Current Market

The confusion over the Government’s current stance on diesel has clearly had a huge impact on the public. So much so that the Society of Motor Manufacturers and Traders (SMMT) has called on the Government to use the Autumn Budget to restore stability in the market and encourage the public to invest in the latest low emission automobiles. SMMT believes that this is the fastest and most effective way to address the serious air quality concerns in this country.

Incentives

One way that the Government has encouraged the public to make the switch is by making incentives. Motorists can benefit from a grant when they purchase a new plug-in vehicle, plus there are benefits like no road tax for electric vehicles and no congestion charge. When these are combined with the low running costs, it makes owning an electric automobile an appealing prospect and especially because there are so many great models available and a type to suit every motorist. One of the main reasons holding motorists back is the perceived lack of charging points. However, there are currently over 13,000 up and down the country with this number rapidly increasing each month. It is thought that the amount of charging points will outnumber petrol stations by 2020, so it is easy to see more and more motorists start to invest in electric cars way ahead of the 2040 ban.

It is an interesting time in the UK as people are now embracing the electric car revolution. The Government’s clean air plans seem to have accelerated this revolution, plus the poor publicity that diesel has received has only strengthened the case for making the switch sooner rather than later.

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Energy

7 Benefits You Should Consider Giving Your Energy Employees

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As an energy startup, you’re always looking to offer the most competitive packages to entice top-tier talent. This can be tough, especially when trying to put something together that’s both affordable but also has perks that employees are after.

After all, this is an incredibly competitive field and one that’s constantly doing what it can to stay ahead. However, that’s why I’m bringing you a few helpful benefits that could be what bolsters you ahead of your competition. Check them out below:

Financial Advising

One benefit commonly overlooked by companies is offering your employees financial advising services, which could help them tremendously in planning for their long-term goals with your firm. This includes anything from budgeting and savings plans to recommendations for credit repair services and investments. Try to take a look at if your energy company could bring on an extra person or two specifically for this role, as it will pay off tremendously regarding retention and employee happiness.

Life Insurance

While often included in a lot of health benefits packages, offering your employees life insurance could be an excellent addition to your current perks. Although seldom used, life insurance is a small sign that shows you care about the life of their family beyond just office hours. Additionally, at such a low cost, this is a pretty simple aspect to add to your packages. Try contacting some brokers or insurance agents to see if you can find a policy that’s right for your firm.

Dedicated Time To Enjoy Their Hobbies

Although something seen more often in startups in Silicon Valley, having dedicated office time for employees to enjoy their passions is something that has shown great results. Whether it be learning the piano or taking on building a video game, having your team spend some time on the things they truly enjoy can translate to increased productivity. Why? Because giving them the ability to better themselves, they’ll in turn bring that to their work as well.

The Ability To Work Remotely

It’s no secret that a lot of employers despise the idea of letting their employees work remotely. However, it’s actually proven to hold some amazing benefits. According to Global Workplace Analytics, 95% of employers that allow their employees to telework reported an increased rate of retention, saving on both turnover and sick days. Depending on the needs of each individual role, this can be a strategy to implement either whenever your team wants or on assigned days. Either way, this is one perk almost everyone will love.

Health Insurance

Even though it’s mandated for companies with over 50 employees, offering health insurance regardless is arguably a benefit well received across the board. In fact, as noted in research compiled by KFF, 28.6% of employers with less than 50 people still offered health care. Why is that the case? Because it shows you care about their well-being, and know that a healthy employee is one that doesn’t have to worry about astronomical medical bills.

Unlimited Time Off

This is a perk that almost no employer offers but should be regarded as something to consider. According to The Washington Post, only 1-2% of companies offer unlimited vacation, which it’s easy to see why. A true “unlimited vacation” program could be a firm’s worse nightmare, with employees skipping out every other week to enjoy themselves. However, with the right model in place that rewards hard work with days off, your employees will absolutely adore this policy.

A Full Pantry

Finally, having a pantry full of food can be one perk that’s not only relatively inexpensive but also adds to the value of the workplace. As noted by USA Today, when surveying employees who had snacks versus those who didn’t, 67% of those who did reported they were “very happy” with their work life. You’d be surprised at how much of a difference this could make, especially when considering the price point. Consider adding a kitchen to your office if you haven’t already, and always keep the snacks and drinks everyone wants fully stocked. Doing so will increase morale tremendously.

Final Thoughts

Compiling a great package for your energy company is going to take some time in looking at what you can afford versus what’s the most you can offer. While it might mean cutting back in other areas, having a workforce that feels like you genuinely want to take care of them can take you far. And with so many different benefits to include in your energy company’s package, which one is your favorite? Comment with your answers below!

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