Green Investment Group/Macquarie protest

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Date(s) - 02/11/2017
8:00 am - 9:00 am

Christchurch Spitalfields


Green Investment Group/Macquarie protest

The Green Investment Bank (now Group), sold off to Macquarie Bank – an awful Australian outfit – will be having its annual ‘stakeholder event’. We plan to do our usual (but enhanced) welcome committee with banners from 8 to about 9am. We’ll probably leaflet attenders. We may sing a song, chant, talk to passersby, the press, whatever you’re comfortable with. Please reply to say you can join us (or not).

Green Investment Bank’s first act was to lend Drax Power Station £100m (later reduced to £50m) to kick-start its conversion to biomass. We have deterred them from lending to other big biomass projects though they persist in supporting Energy from Waste and biomass gasifications – false solutions both.

A small delegation will be attending to ask awkward questions.

Macquarie is also the chief investor and advisor behind MGT Power’s Teesside Biomass CHP plant which will burn 3m tonnes of wood a year, 2m tonnes from Enviva who are laying waste the SE US forests. See our briefing about the project (aimed at PKA, the Danish Pension Fund – who hold a 50% equity stake in the project).

We fear that GIG may invest in the Grangemouth biomass power-station that recently got a promise of government subsidy. See briefing:

Join us to make sure that the new private GIG lends constructively to enable the transition rather than just share-holder profits.


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