Green Investment Bank releases results

Greenpeace response



London - In response to the Green Investment Bank's
announcement of their annual results, Greenpeace UK energy campaigner Louise
Hutchins said :

“One year on, the Green Investment Bank is clearly a success story, driving
investment where it is needed in Britain’s cutting edge renewable industries.
But the level of investment still doesn’t match Britain’s strategic
requirements. George Osborne should now give the Bank freedom to borrow to
invest at a much bigger scale, to modernise Britain’s decaying, polluting
energy system and give a boost to the economy. The market is failing - the big
6 energy firms show no appetite for making the scale of investments needed to
keep the lights on, cut energy waste and fossil fuel imports or meet our
climate targets. There’s still room for improvement in their investment
criteria - a green bank should have no role in backing unsustainable
biomass – but the Bank’s new plans to boost offshore wind in the year ahead
shows the right priorities.”

ENDS

Contact

Greenpeace UK Press Office - 020 7865 8255

Notes

GIB announcement - http://www.greeninvestmentbank.com/news-and-insight/2014/gib-announces-2013-14-results-and-plans-to-raise-a-new-1bn-fund/


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