The green investment bank (GIB), first proposed by the conservatives when in opposition, may now be scaled back according to Chris Huhne. It was initially intended to be capitalised with £6bn to support the development of green energy projects. This was cut to £2bn in the CSR, mostly consisting of funds already earmarked for 'green' projects.

However comments made by Chris Huhne yesterday suggest the bank will not, initially at least, finance projects by issuing 'green bonds'.