George Osborne has suffered a further blow to his credibility after global financial institutions such as Bank of America and the insurance giant Aviva accused him of driving away crucial investment in the energy sector. On the day of the Chancellor’s Conservative Party Conference speech, investors controlling more than £1trn of assets have strongly criticised him after he removed from the Energy Bill a clause that would have made Britain’s electricity supply almost entirely green by 2030. The attack comes as the Coalition government is said to be in talks to delay the implementation of a multi-billion-pound green scheme to help take the pressure off the fuel bills. It is reported to be considering agreeing to the demands to reform the home insulation scheme, the Energy Companies Obligation. But other investors have warned the Government must step up its commitment to the green agenda. The financial consortium is concerned that the Government has failed to signal a clear commitment to low-carbon energy, making it very difficult for potential investors to determine the risk associated with backing wind, solar and other energy projects. As a result, many are shying away from making important investments, they argue.