Green Investment Bank Commission publishes report “Unlocking Investment to Deliver Britain’s Low Carbon Future”

July 1st, 2010 by Richard Lord

Report Cover

The Green Investment Bank (GIB) Commission has produced a report, Unlocking Investment to deliver Britain’s low carbon future, stating that Britain may need up to £550 billion in investment to achieve 2020 carbon emission reduction targets.

“The investment required to meet UK climate change and renewable energy targets is on a scale not seen since post Second World War reconstruction.  Action is needed now to facilitate the required investment to safeguard our future.”

The report by an independent and non-partisan advisory group was commissioned by the Conservative Party when they were in opposition.

“It sets out the challenges facing Britain’s transition to a low carbon economy, the market failures and barriers to investment, and the case for intervention to address them.”

“It recommends the establishment of the Green Investment Bank to open up flows of investment by mitigating and better managing risk (rather than simply increasing rewards to investors.)”

Greg Barker, the UK Energy & Climate Change Minister, said that detailed proposals on the creation of a UK Green Investment Bank will be brought forward following the Spending Review in October.

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