Greens pour cold water on Cable's new £3bn eco bank
Wednesday 28 November 2012
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EmailScottish Greens vented their frustrations today with a new "green" bank hamstrung by the London government.
Westminster Business Secretary Vince Cable said the Edinburgh-based Green Investment Bank, funded by £3 billion of public money, would back low-carbon electricity projects.
But he "disappointingly" refused to rule out investing in nuclear power.
Glasgow Green MSP Patrick Harvie said: "It's hard to see how this bank will live up to the hype.
"Investing in sustainable, clean forms of energy is obvious but this bank isn't being allowed to borrow from the markets so its full potential is being restricted.
"And the Chancellor is openly hostile to a green route out of recession."
Greenpeace policy director Joss Garman added: "Greenpeace campaigned hard for the green investment bank, but what we've ended up with is a poor cousin."
He said refusing to deal with the issue properly was "jeopardising jobs and stymieing growth."
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