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Alex Sobel supports Labour’s Green bonds – investment in a green future

I’m strongly in favour of Labour’s recently announced Green Bonds – and I’m also in favour of generating sufficient renewable energy to make the need for shale gas extraction redundant.  Labour’s plans here would help make fracking unnecessary.

The bonds are part of Labour’s serious plans to fund Green investment through the Green Investment bank. We’ll give the bank powers to borrow to invest.

And these bonds will allow the public more generally to take a stake in the green future.

I firmly believe that green industries will be an important part of our economic future in this country.  But they are short of investment. 

Caroline Flint estimates we need  £100bn to move our outdated electricity generation to cleaner, greener alternatives. But only about a half of that money is coming in. http://www.theguardian.com/uk-news/2015/mar/08/green-premium-bond-pledge

 

Green bonds would help raise that extra money. They would also give a very good return to small savers.  Green investments are currently  bringing in far more in interest than other forms of saving. Up to 8% a year is a possibility here. They will spread the profits from our green future very widely. As with premium bonds, you wouldn’t need to be rich to have a stake and a share.

 

Just as important, this initiative will help bring renewables including micro-generation and carbon co-ops to fruition. That will negate the need for riskier types of extraction of fossil fuels such as shale gas extraction (fracking) -  to which I am opposed.

 

So green bonds would be a winner in my book – good for the economy, good for the planet, and good for large sections of the population. And the green future they’ll help secure will be good for every single one of us.

 

 

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