Institution of Civil Engineers ICE comment on Green Investment Bank GIB report

"The Commission's report into how a GIB could help to unlock infrastructure investment is a positive step and the Commission clearly recognises the scale of the funding challenge and the need for intervention. The recommendation that such a bank should work in tandem with other Government initiatives and be a permanent institution is also welcome - a long term strategic remit will be vital in creating a stable environment for private investors.

"The report also includes a number of fund raising ideas with real merit - including selling 'green ISAs' and recycling cash from infrastructure asset sales such as High Speed 1, which went up for sale last week.

"We now look forward to the next steps towards establishing a GIB that is ambitious enough and can operate in a way that reflects the scale of the task at hand. Many billions of pounds will need to be channeled into our infrastructure to secure the UK's future competitiveness and make the transition to a low carbon economy."