The bank will initially be funded with £1bn of public investment to fund clean energy and low carbon investments.
If it is to have any success the trick will be to avoid lame duck and uneconomic projects and policies - of which there are many. The next post will give some suggestion as to what 'sub prime' green investments might be avoided. It is contained in a report from an Edinburgh professor of ecnomics.
Government papers on the backgrounhd to the GIB can be found here.
The proponents of green investment banking (GIB) are confident in potential of it in building and establishing a sustainable economy. If GIB is combined with the market electricity reforms, it will create more jobs and a lasting economic benefit that will surely grant the country a viable edge.
ReplyDeleteSabrina Garza
A sustainable economy? There is little clarity on what that means. The best way to create jobs is not to create artificial green jobs - but to allow the economy to flourish. Cheaper energy would help - and 'green' is usually much more expensive
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