Antinuclear

UK’s Green Investment Bank includes nuclear as “green”

Caroline Lucas, the Green party MP who sits on the committee, said: “Nuclear is not green in my view. But it’s not new in anyone’s mind. Funding nuclear makes a mockery of the whole idea of a Green Investment Bank

Green investment bank could help to build nuclear reactors The Conservatives’ pre-election manifesto promised that the bank would finance ‘new green technology start-ups’ Tim Webb * guardian.co.uk,  13 January 2011 The government’s Green Investment Bank could fund the building of new nuclear reactors, it has emerged.

It is the latest form of public financial support on offer to the industry from the government which continues to insist that the industry will not receive any more subsidies.

The Conservatives’ pre-election manifesto promised that the Green Investment Bank – which was also in the coalition agreement – would finance “new green technology start-ups”.

But documents issued before Christmas by Vince Cable’s business department list new reactors, along with offshore wind farms and new electricity grids, as one of the three proposed “target sectors” on which the bank would initially focus…..

Caroline Lucas, the Green party MP who sits on the committee, said: “Nuclear is not green in my view. But it’s not new in anyone’s mind. Funding nuclear makes a mockery of the whole idea of a Green Investment Bank and even indirect support – such as cheaper taxpayer-backed loans offered by a bank – still amounts to a subsidy.

Green investment bank could help to build nuclear reactors | Environment | guardian.co.uk

January 14, 2011 - Posted by Christina Macpherson | Uncategorized