UK green bank 'should absorb the Carbon Trust'

Commission recommends merging the Carbon Trust, Energy Technologies Institute and other bodies to address "inefficiencies"

The government should merge the Carbon Trust into a new Green Investment Bank to improve support for private investment in low-carbon industries while cutting overall costs, a report by an independent commission recommends.

The Carbon Trust contributed to the report of the Green Investment Bank Commission, but declined to be interviewed about its recommendations.

The commission was set up in late 2009 by the former Labour government to develop proposals for a new bank to help increase investment in low-carbon infrastructure and technologies. The commission was chaired by Bob Wigley, chairman of Yell Group, and included a range of financial experts.

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