Government faces fresh criticism over Green Investment Bank sell-off
by Richard Partington from on (#2ZKT5)
Lib Dem leader Vince Cable questions UK's commitment to environmental projects after GIB sale to Australian bank Macquarie
The government is facing renewed criticism after pushing through the "disastrous" sale of the Green Investment Bank (GIB) to the Australian bank Macquarie, as fresh concerns are raised over its commitment to environmental projects.
A consortium led by Macquarie agreed to buy the GIB, which was established in 2012 by the coalition government to fund green infrastructure projects such as windfarms and a waste and bioenergy power plant. The consortium also includes Macquarie's in-house infrastructure fund and the Universities Superannuation Scheme, a pension fund for British higher education institutions.
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