A long stand-off between global Australian bank, Macquarie, and U.K. politicians—specifically Liberals Democrats and Green party groups—concluded this past April, bringing forth a compromise in a much-heated debate. The result: Australia’s privately owned Macquarie bought the Green Investment Bank. Although executives were thrilled back home in Sydney, many folks in the U.K. remained perturbed by the outcome.
The Guardian reported that if it had not been for Theresa May, and her concern about political deadlock immobilizing campaigns, politicians and private bankers would still be sitting at a crossroads; each one urging the other down a different path. The deal was originally supposed to be sealed in January of this year, but debate left it idling until just recently in April; and even though the deal has been dealt with, the debate still rages forth.
Many concerns lie in the fact that privatizing the bank will strip the bank of its assets; therefore, disrupting the public tax system. Others are upset with the possibility that the new purchase will result in the Green Investment Bank’s vision of environmentalism to dissolve and fade away into a mist of private interests. However, the climate minister of the U.K. Nick Hurd had something different to say.
Bloomberg reported that Hurd’s statement made to the Department of Business painted a different picture for tax payers in the U.K. Firstly, both existing offices, and employees, would not be affected by the deal. Furthermore, Hurd stated that “We have secured fair value for the U.K. taxpayer.” Other promises about a “golden share-holder” had been implemented in the contract to keep the Green Investment Bank’s environmental interests in tact.
So, with all the political turmoil and turbulence that circulates through this issue, many investors are sprouting the question: Should I consider investing in green energy? According to one of Monaco’s successful private banker, the answer is YES.
“A lot of this is just politics,” says Gerard Cohen, business man and economic maestro. “So, as far as investments goes, I would ignore the tug-o-war that is taking place between Liberals and Conservatives. Here is the fact: whether people like it or not, green energy is becoming globally accepted, and is no longer associated with crazed Liberals or even politics—green energy has flourished into the public, and once the people say it is, well, then so it shall be! This is the future, and investing in green energy, in my opinion, is a very wise decision.”
For investors, Gerard Cohen’s words could not ring much louder with truth. Since Macquarie purchased the Green Investment Bank, both institutions have become the third largest lenders to renewable energy programs in the U.K. Investing in Green Energy is not just dire for a more sustainable environment; it is crucial for a more sustainable economy.
Photo: © Sergey Nivens / Adobe Stock