Thu 20 Apr, 2017

I don’t expect the public to fully trust that GIB will make the right investments in renewables project that could eventually make fossil fuel methods redundant. Andy Wightman MSP

The decision to sell the Green Investment Bank to a company that has invested billions of pounds in fossil fuel projects has been criticised by a Green MSP.

Australian bank Macquarie has a history of investing in fracking and opencast coal mining projects and Green MSP Andy Wightman says that GIB’s environmental credentials are “now in tatters”.

Wightman, who has been campaigning to keep the bank open in Edinburgh, is requesting a meeting with GIB’s chairman to seek guarantees that the bank will remain true to its Green credentials.

Lothian MSP, Andy Wightman said:

“The green credentials of the supposed Green Investment Bank are now in tatters. Why would the new owners allow for genuine green investments to be made if they are going to impact on the profitability of the company’s previous investments? I don’t expect the public to fully trust that GIB will make the right investments in renewables project that could eventually make fossil fuel methods redundant.

“As an MSP for the capital, I’m pleased that jobs will remain in the city. Edinburgh has a proud history of financial prudence, which has been inappropriately rocked in recent times by unscrupulous banking practices. With this sale I hope to see it return to responsible lending and investing that will be carried out with the due diligence that consumers expect.”

Get involved

More like this

Short-term lets in ten million pounds a year tax break

Fri 4 Aug, 2017

New analysis by Andy Wightman MSP shows that as visitors descend on Edinburgh for festival season, £10.6million of taxes are being avoided this year due to the boom in private homes being let out as holiday accommodation.

#GE17: Greens vow to stand up to Trump and Tories

Wed 7 Jun, 2017

The Scottish Greens will today use the final day of General Election campaigning to knock on as many doors as possible, including the US Consulate in Edinburgh, where two Green candidates will deliver a letter outlining the party’s objections to recent actions by Donald Trump.

Report reveals short-term let problems facing the capital

Fri 7 Apr, 2017

A report detailing the scale of the problem with “short-term lets” in Scotland’s capital has been published by a Green MSP.

The publication by Andy Wightman MSP, the Scottish Greens’ housing spokesperson, shows there are more than 6200 properties available in Edinburgh for short term letting and that more than half of these are entire homes where the owner is not present.