UK 'is fully committed to environmental technology'

The coalition government's decision to back the Green Investment Bank received support from the Cumbria Green Business Forum.

On Tuesday (June 22nd), the government revealed its plans to create an environmentally-focused investment bank when it announced the emergency Budget.

According to the chairman of the Cumbria Green Business Forum John Barwise, this initiative, which intends to raise money to develop green technologies and renewable energy projects, was "the most positive commitment" of the Budget.

He said: "[The Green Investment Bank] will send a clear signal to investors that the UK is fully committed to supporting the environmental technologies sector."

The establishment of the green fund came after investment management group F&C published its latest Question of the Month survey earlier this month, which revealed that 73.3 per cent of investors would consider using an ethical investment trust if one was available.

Of that proportion, 41.3 per cent said their commitment to a green bank would depend on the trust's investment focus.

Posted by Claire Manning