Use polluters’ cash to create a green bank

Article by James Cameron

Use carbon credits to fund a green investment bank for the UK, argues James Cameron, Vice Chairman of Climate Change Capital.

"Such a bank, properly capitalised with auction revenues, could invest in the technologies and infrastructure essential for keeping the UK economy successful and competitive. The country would see this financial institution - set up by the people for the people - developing the new, low-carbon economy around us. If it was capitalised with £40 billion from the auctions up to 2020, it could conceivably unleash hundreds of billions of pounds more in low-carbon investment. And it wouldn't cost the taxpayer anything or divert money from other parts of the economy, as the money would come straight from polluting companies."

To read the Times article click here.

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Use polluters’ cash to create a green bank