The commission, an independent group set up by the UK government to advise it, calls for the bank to be set up within six months, and recommends that it replace and rationalise existing Government quangos, funds and initiatives that aim to support climate change objectives to improve their cost-effectiveness.
These include the Carbon Trust, Technology Strategy Board, Energy Technologies Institute, International Environmental Transformation Fund, Ofgem Low Carbon Network Fund, Environmental Transformation Fund, UK Innovation Investment Fund and Marine Renewables Deployment Fund .
The
