Guernsey Finance has been given a grant of £300,000 from the Future Guernsey Economic Fund to support the development of green finance initiatives.
The finance sector and the professional services sector in Guernsey see green finance as an area where there is significant potential growth for the economy.
Deputy Lyndon Trott and Lindsay de Sausmarez's amendment to the budget will help the Board of Guernsey Finance to achieve the following objectives:
Deputy Trott said it was a one-off investment for 2020, with a further funding plan for 2021-23 to be drawn up next year that will aim to ensure sustainable funding.
The amendment faced no opposition on the voting cards, however Deputy David De Lisle did say he would prefer to see money invested in local environmental schemes rather than initiatives and offsetting in other parts of the world.
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