Virgin welcomes proposal for a Green Individual Savings Account

Virgin Money welcomes George Osborne's proposal to set up a working group to look at Green Individual Savings Accounts.

Jason Wyer-Smith from Virgin Money, which recently launched the' Virgin Climate Change Fund', said: "Although investment in 'green' funds is already available such an innovation would undoubtedly raise the profile of environmentally focused investment and encourage more saving generally.

This can only be a good thing.

We look forward to engaging with Patrick Snowball's working team as we feel it would be vital to get the green benchmarking right. If the benchmarking criteria is too narrow there is a danger of creating a 'green bubble' for a relatively small number of companies and exposing investors to unnecessary risk."