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UK is mulling its options for a Green Bank

first_img Share Tuesday 14 September 2010 8:18 pm “We have begun the process of establishing the Green Investment Bank,” Gregory Barker told a CBI event. “We are currently studying a wide range of options. We are also looking at the option of it being commercially independent,” he added, declining to give further details.The government hopes the establishment of a “green bank” will help it meet its 2020 goals to cut carbon emissions and reduce the use of fossil fuels. Three departments – the Treasury, the Department for Business Innovation and Skills and the Department of Energy and Climate Change – are working on plans for the bank.Barker would not comment on when the bank would be formed but said the government would publish its proposals later in the year.“We need to understand the implications of the Carbon Reduction Commitment first,” he said, referring to Britain’s new mandatory corporate carbon trading scheme.An independent report in June said Britain may need up to £550bn of investment through 2020 to fund the shift to a low-carbon economy.It said a “green bank” funded by new consumer levies, the sale of emissions permits to industry and new investment products would help plug the gap. whatsapp Britain has begun the process of setting up its Green Investment Bank to help fund the shift to a low-carbon economy and could make it commercially independent, the minister of state for energy and climate change said yesterday. whatsapp KCS-content UK is mulling its options for a Green Bank More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULLlast_img

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