ICE responds to Green Investment Bank (GIB) report
Commenting on the Green Investment Bank (GIB) Commission report published today by Chairman Bob Wigley, ICE Director General, Tom Foulkes, said:
“The Commission’s report into how a GIB could help to unlock infrastructure investment is a positive step and the Commission clearly recognises the scale of the funding challenge and the need for intervention. The recommendation that such a bank should work in tandem with other Government initiatives and be a permanent institution is also welcome – a long term strategic remit will be vital in creating a stable environment for private investors.
“The report also includes a number of fund raising ideas with real merit - including selling ‘green ISAs’ and recycling cash from infrastructure asset sales such as High Speed 1, which went up for sale last week.
“We now look forward to the next steps towards establishing a GIB that is ambitious enough and can operate in a way that reflects the scale of the task at hand. Many billions of pounds will need to be channeled into our infrastructure to secure the UK’s future competitiveness and make the transition to a low carbon economy.”
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The Institution of Civil Engineers (ICE) was founded in 1818 to ensure professionalism in civil engineering. It represents 80,000 qualified and student civil engineers in the UK and across the globe. The ICE has long worked with the government of the day to help it to achieve its objectives, and has worked with industry to ensure that construction and civil engineering remain major contributors to the UK economy and UK exports.
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Kate Ison
ICE Media Manager0207 665 2104
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Kate.ison@ice.org.uk