Sunday, 15 December 2013

More green corruption....

George Osborne's motto should be "spend, spend, spend". Like £3.8 billion on the renewable energy racket.....

"A new breed of lucrative green investment funds, which were set up to expand windfarm energy, are in practice a means of taking green levies paid by hard-pressed consumers and handing them to City investors and financiers. £3.8 billion of taxpayers’ money funds the new Green Investment Bank, set up by the Department of Business and Skills. One of its biggest deals involved energy giant SSE selling windfarms to one of the new green funds, Greencoat Wind. The Green Investment Bank’s chairman, Lord Smith of Kelvin, is also chairman of SSE. The bank says it ‘provided expertise’ to enable BIS to take a £50 million stake in Greencoat, which helped fund the SSE sale. The same bank’s chief executive, Shaun Kingsbury [gets paid a] £325,000 of Greencoat's directors is William Rickett, a former director general at the Department of Energy and Climate Change."

Meanwhile there are rich pickings to be had if you're on Parliament's Committee on Climate Change (CCC). The above article adds that until recently, chairman Lord Deben  headed renewables firm Veolia Water UK for an undisclosed sum. He remains chairman of his family firm Sancroft, which advises companies on environmental policy. Former government chief scientific adviser Lord May is paid another undisclosed sum as a member of HSBC's ‘Sustainability Board'.  And fellow committee member Sam Fankhauser admits that he too is paid an undisclosed sum as a director of Vivid Economics, which advises business clients on green Government policies.

For past posts on green corruption see here and here too and also here....and don't forget here either.

1 comment:

  1. The whole green thing's been a nice little earner for them all.

    "director of Vivid Economics, which advises business clients on green Government policies."



Keep it clean.....