Not sure how to take action on the privatisation of the Green Investment Bank? We’ve created a template letter that you can send to your MP asking them to urge the Chancellor, Rt Hon Philip Hammond MP and the relevant Ministers in the Department of Energy and Industrial Strategy to halt the sale of the bank.
How to use the template letter
- Find out the name and contact details of your MP. This can be easily done by going here: http://www.parliament.uk/mps-lords-and-offices/mps/
- If you have the time, personalise the letter with your concerns about the sale of the GIB!
- Email it off to your MP
It’s that simple!
Dear [MP Name],
I am writing to you because I am deeply concerned about the privatisation of the Green Investment Bank (GIB).
Since the inception of the bank in 2012, the GIB has committed more than £2.7 billion into energy and infrastructure projects across our islands and has been instrumental in aiding the UK’s transition to a low carbon economy. I am concerned that privatising the bank will risk moving us further away from reaching the UK’s commitment to an 80% reduction of carbon emissions by 2050, a target that we’re already not on track to make.
I have deep concerns over the preferred bidder for the bank, Macquarie Group, which has an extremely poor track record on climate change and is reported to hold around £1.6 billion of investment in fossil fuels, which raises serious questions over the Group’s intentions for the GIB and its environmental credentials. I am further concerned by recent changes to the internal structure of the GIB, which will make it easier to strip off the bank’s assets if the bank’s sale goes ahead. Reports that the Macquarie Group is already looking to sell off the bank’s wind and biomass assets amplifies my concerns .
The low carbon sector has the potential to provide excellent employment opportunities for young people, like me, and needs to be supported in the years to come. Investment in low carbon industry and business through the GIB is vital to ensure that young people today have the best opportunities possible in the future.
I urge you to raise my concerns about this to the relevant Ministers in the Department of Energy and Industrial Strategy, and to the Chancellor, Rt Hon Philip Hammond MP, and ask that they halt the sale of the GIB and take measures to ensure that any potential bidder retains the funding of sustainable, low carbon initiatives as the primary motive of the GIB.