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Green Investment Bank will create 'great opportunities for plumbers'
21/10/10
Edited by Andy Jowett.The government's commitment of £1 billion in upfront capital for a Green Investment Bank (GIB) should provide a "great opportunity" for the heating industry and consumer to reduce the environmental impact of Britain's residential property.
This is according to Chartered Institute of Plumbing and Heating Engineering (CIPHE) chief executive Blane Judd.
He said plumbers are often on the "frontline of carbon saving" and the bank, which will provide finance for investment in green technologies with repayments made through energy savings, should significantly boost their work in this area.
Indeed, the heating industry as a whole should use the establishment of the GIB as a chance to engage with consumers and encourage more of them to examine the possibility of installing renewable systems that will protect the environment.
Announcing the backing for the bank yesterday (October 20th), chancellor George Osborne said he hoped the initial capital would be added to by the private sector and the future sale of government assets.
However, sustainable investment organisation UKSIF said it was "alarming" that the upfront capital would not be released until 2013.
