06 April 2009, The Guardian

How to finance the UK's green deal

Article by Sam Phipps

The UK government will need to think big, bold and fast if its "green new deal" is to get beyond the rhetoric stage, industrial and financial analysts say, writes Sam Phipps. From Climate Change Corp, part of the Guardian Environment Network


"James Cameron, executive director of Climate Change Capital, a London based investment and consultancy firm specialising in the low carbon industry, said the government should issue "carbon bonds" along the lines of war bonds in the Second World War. The REA also backs the idea.

The recession will increasingly spur people to save, and the bonds would appeal as other financial instruments are viewed as risky or discredited, the reasoning goes. Also, returns on cash are at historic lows. Above all, the bonds would appeal to people's sense of duty and pride."

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