Tommy Sheppard

MP for Edinburgh East

Green Investment Bank

The Green Investment Bank is vital because it funds innovative but high-risk low-carbon projects. This is crucial in Scotland where we have a huge amount of green energy potential. But in order for low carbon energy to become a low cost energy option we need investment in research and development.

I am extremely concerned about the privatisation of this important institution. Even more so since the reports that the privatisation may result in an asset stripping exercise. This goes against previous commitments made to the Scottish Government.

At the very least we have asked for guarantees that the Bank will remain headquartered in Edinburgh, that the highly skilled jobs within the Bank will be retained and the Bank’s green purpose – which enables it to invest in innovative new renewable technologies – will be protected.

In Scotland almost 50% of our electricity consumption is now coming from renewable sources. The GIB plays a key role in driving the green economy and we must keep investing so that this can continue to increase.

If the GIB is allowed to be asset stripped it will just become another investment bank. And quite frankly we have enough of those already.

Both the Scottish Government and SNP MPs at Westminster will continue to press the UK Government for further commitments to protect the GIB so that we can drive forward the green agenda, promote future growth and create more jobs both within the organisation and the wider sector.


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Friday, 20 October 2017

Tommy's Blog Articles

Tommy Sheppard
11 October 2017
Tommy's Blog
I have never been prouder of our SNP Scottish Government than I was last Tuesday when the Energy Minister, Paul Wheelhouse MSP, made a statement to parliament on fracking. He was responding to a huge public consultation on the issue and he made it crystal clear that fracking would not be part of the energy mix in Scotland.Not only was this the right decision but the manner in which the government ...
Tommy Sheppard
03 October 2017
My work for you in Edinburgh East
Tommy's Blog

Long before I stood for election I opposed fracking and I’ve been very pleased to be able to coordinate opposition over the past couple of years.

So you’ll not be surprised to hear that I am delighted by the announcement that has just been made by Paul Wheelhouse, Minister for Business, Innovation & Energy, in the Scottish Parliament.

Tommy Sheppard
02 October 2017
Tommy's Blog
Yesterday I got back from a holiday – the only time of the year where I switch off from the world.  I turned on my phone to see with horror what was happening in #Catalonia.The actions of the Spanish authorities were shocking. Images beamed around the world of police violence against young and old alike who simply wanted to cast a democratic vote.  I’m in awe of the voters who remained peaceful an...
Tommy Sheppard
22 September 2017
Tommy's Blog
I was delighted to attend the International Fund for Animal Welfare (IFAW) Westminster launch of a new report on the illegal ivory trade across Europe, (Ivory seizures in Europe, 2006-2015), which found that the European Union is still a destination for illegal ivory, a major transit route between countries and a key exporter of antique ivory to South East Asian markets.I fully support the campaig...
Tommy Sheppard
10 September 2017
Tommy's Blog
Workings of Westminster

There was a big turnout from SNP MPs to support Royal College of Nursing #scrapthecap demo at Westminster.

And great to see Geoff who had made the journey from Edinburgh East alongside other RCN members from across the UK.