The UK-listed renewable energy stocks have increased 170 percent on average for 2020, media reports said. An analysis report published by finnCap found that annual investments of $350 billion in the country’s renewable energy sector is required over the next 30 years to meet the Paris Agreement goal.
finnCap research director Jonathan Wright, told the media, “Clean, limitless in supply, increasingly competitive on costs, future-proofed, socially desirable and governmentally encouraged, renewable energy is here to stay. What’s more, with institutional investors increasingly focused on sustainability, even SMID cap oil and gas exploration and production companies are going to have to present a convincing ‘E’ component to their ESG strategy if they are to attract these investors.”
According to the report, small and medium-cap oil exploration and production companies seeking long-term growth will have to develop sustainability credentials. It even suggests that IOCS should categorise themselves between ‘good’ and ‘bad’ energy companies to speed up clean energy. The UK is evolving in its renewable energy sector on the back of recording significant numbers this year. This in turn has caught investor attention which is a positive indicator of the sector’s growth in the future.