The British Private Equity and Venture Capital Association has formed a committee to provide regulatory guidance and industry support for the renewable energy and clean technology sectors, whose prospects have taken a knock after investments fell markedly towards the end of last year.

The trade body's move follows a difficult environment for venture capital cleantech investments in the fourth quarter of last year. The Cleantech Group, a trade body, said preliminary results for the last quarter indicate venture investment commitments worldwide of $1.7bn (€1.3bn), the lowest sum in six quarters.