Green Investment Bank sell-off plans alarm MPs and peers
by Toby Helm from Environment | The Guardian on (#XGZP)
MPs say a privatised Green Investment Bank won't be obliged to fund eco-friendly projects
Controversial plans to privatise the government's Green Investment Bank (GIB) have run into serious trouble in parliament amid fears among MPs and peers that the sale will strip it of any legal requirement to back exclusively green projects and promote a low-carbon economy.
Key figures in government have admitted that the sell-off has become hugely problematic, because ministers have been told the switch to the private sector has to include rule changes that will release the privatised bank from any duty to invest solely in green businesses or causes.
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