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UK Green Investment Bank to drive renewable energy, not nuclear

The UK Government has come under criticism for potentially funding the development of nuclear power through the Green Investment Bank.

By Renewable Energy Focus staff

The Chartered Institution of Water and Environmental Management’s (CIWEM) Environmental Parliamentarian of the Year, Caroline Lucas, is supported by the institution in her criticism of the Government.

No final decision has yet been made on whether the bank will provide financial support for the nuclear industry, and CIWEM urges the Government to prioritise providing the necessary financial support to renewable energy such as fast-track offshore wind, wave and tidal energy production.

CIWEM’s Executive Director, Nick Reeves, says: “The Green Investment Bank must invest in cutting edge renewable technologies that lead us to a genuinely competitive low-carbon economy. Our carbon targets will be missed unless urgent action is taken to improve access to capital, so we urge the Government to live up to their promise to be the greenest government ever and prioritise the development of renewable energy through their green bank.”

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