Saturday, March 12, 2011

Green investment bank 'must operate commercially'

One wonders why the private sector monies, billions to trillions sitting at the top, would need to be 'attracted' to investing in moving this planet forward! The past couple of decades have moved so called capitalism to the top with the promises, con game, that the monies there would readily flow down in investments to supposedly build economies better and faster then what once was before those decades, i.e. growth here in the U.S. after World War II to some thirty years ago stagnation start!

One already knows the forces trying to maintain and block real growth, they got the money and bought political and media power!

Green economy is at risk if the bank cannot attract private sector investors, a cross-party committee of MPs have warned

Offshore wind farms could be supported by the green investment bank - but it must not be downgraded to a fund, say ministers. Photograph: Murdo Macleod

11 March 2011 - The government is putting the UK's fledgling green economy at risk by downgrading the "green investment bank" to a mere fund, MPs have warned in a scathing report on the plans.

If the bank is to succeed in directing billions of needed investment into green projects such as renewable energy, it must be allowed to operate commercially and attract private sector investors, an influential cross-party committee of MPs said, putting them at loggerheads with officials who want to water down the proposals for the £2bn bank. They also called for the bank to issue "green ISAs" through which individual investors could put their savings into low-carbon projects. {continued}

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