UK green economy bid gathers pace

bank' to unlock billions of pounds for low-carbon technology must be a permanent institution that can borrow from markets, campaigners have urged, reports Shropshire Star.

Campaigners who have been fighting for a bank as part of efforts to 'green' the UK economy have voiced concerns that the treasury is undermining the plans for the institution.

They want to see the bank enshrined in law and given explicit powers to borrow from the capital markets - without which, they say, it will not be able to deliver the needed investment in low carbon technology.

According to Planning Resource, some commentators have been tempted to dismiss the bank as little more than a sop from the government to the green lobby, but sources within Whitehall are keen to play up its role, believing it will become more influential as confidence in it grows.

Handled in the right way, it could make a significant contribution to the twin objectives of carbon reduction and economic recovery.

Whatever the government decides about the scope, many will be disappointed, says Grant Thornton.