A sustainable finance organisation has called on the government to act quickly to introduce the Green Investment Bank .

The Green Investment Bank Commission has reported that the initiative needs to get off the ground within the next six months, ideally with a number of quangos being incorporated into it to save money.

According to UKSIF, green investments could be an effective and low cost way to engage with the public, while helping to build towards a low carbon infrastructure.

Penny Shepherd, chief executive of UKSIF, said: Our research shows that nearly half of people in the UK want the opportunity to make money and make a positive difference to the world around them when investing their money. We hope that the Government will now act quickly and decisively to implement the report's proposals.

The setting up of the bank had been included in the Conservative Party manifesto and, despite having to form a coalition government, it was also included as one of the targets in the recent emergency Budget.