Make the Green Investment Bank worthy of its name18 June 2012
Ask your MP to make sure the Green Investment Bank is both green - and a bank.
The Green Investment Bank (GIB) is one step away from becoming law - but politics is still getting in the way.
Years of campaigning, including by thousands of Friends of the Earth supporters, persuaded politicians of all parties to bring in a Green Investment Bank.
But with the draft legislation now in front of MPs, it is still not clear the GIB will be allowed to be a real public bank.
Economy booster
An equivalent bank in Germany has stimulated a big increase in energy saving and clean power and so helped bolster the German economy and create jobs.
The GIB has the potential to match this success and provide a huge 'shot in the arm' for the UK's green economy.
But the Treasury are holding it back. George Osborne insists on waiting until the national debt is declining before the Bank can be allowed to borrow money.
We cannot wait for this: we need massive green investment, starting right now.
Improve draft law
MPs have a chance to change things. They can vote to change the legislation so that the GIB hits the ground running, borrowing and lending from day one.
We'd like MPs to also tighten up what counts as "green investment", to make sure that poor proposals (like slightly less polluting coal plants) won't qualify.
Please email your MP now asking them to support vital amendments to the relevant legislation - the Enterprise and Regulatory Reform Bill.
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