Skip to main content
Gifts from The Morning Star
Green Finance Institute: much ‘finance,’ little green
SOLOMON HUGHES reveals how one of the organisations shaping Labour’s investment plans was created by Tories and bankers, looking like a slightly green-flecked PFI vehicle instead of a body for proper investment
Rachel Reeves met Green Finance Institute chief executive Rhian-Mari Thomas at Davos this January; Thomas says she told Reeves to junk her existing £28 billion public investment plan and let her put Labour ‘in the room’ with the finance industry, resulting in the much smaller £7.3bn fund to work alongside the banks

WHAT is the Green Finance Institute, the organisation behind Labour Chancellor Rachel Reeves’s National Wealth Fund plans? Turns out it is an un-transparent, bank-oriented company cooked up between then Tory chancellor Phillip Hammond and the City of London.
 
Reeves and Ed Miliband say that from April 2024, the Green Finance Institute gave “policy support on the Labour Party’s National Wealth Fund,” running the task force designing the fund, in a donation worth £99,000.

Green Finance Institute chief executive Rhian-Mari Thomas told the Guardian she personally persuaded Reeves to redesign her green investment plans, lobbying the future Chancellor at Davos this January.

Thomas, who spent 19 years as a Barclays banker, says she told Reeves to junk her existing £28 billion public investment plan and let her put Labour “in the room” with the finance industry, resulting in the much smaller £7.3bn fund to work alongside the banks.
 
An ex-banker persuading the future Chancellor to rewrite her policy, reducing public investment, at the corporate Glastonbury of Davos, sounds like Labour dancing to a City tune.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Construction workers during the installation of the first high speed railway platforms for the HS2 project at Old Oak Common station, west London, May 29, 2025
Features / 11 July 2025
11 July 2025
Health Secretary Wes Streeting speaking at the launch of the Government's 10-year health plan during a visit to the Sir Ludwig Guttman Health & Wellbeing Centre in east London, July 3, 2025
Features / 11 July 2025
11 July 2025

US General Stanley McChrystal has been invited to advise on creating a ‘team of teams’ for healthcare transformation. His credentials? He previously ran interrogation bases where Iraqis were stripped naked and beaten, reports SOLOMON HUGHES

Prime Minister Keir Starmer speaks during a media conference at the end of the Nato Summit at the Hague, Netherlands, June 25, 2025
Features / 27 June 2025
27 June 2025

SOLOMON HUGHES explains how the PM is channelling the spirit of Reagan and Thatcher with a ‘two-tier’ nuclear deterrent, whose Greenham Common predecessor was eventually fought off by a bunch of ‘punks and crazies’

Palestinians receive donated food at a community kitchen in Gaza City, June 10, 2025
Features / 13 June 2025
13 June 2025

Israel’s combination of starvation, coercion and murder is part of a carefully concerted plan to ensure Palestinian compliance – as shown in leaked details about the sinister Gaza Humanitarian Foundation which reveal similarities to hunger manipulation projects in Vietnam, Malaya and Kenya, says SOLOMON HUGHES

Similar stories
The Grenfell Memorial Wall in west London, September 3, 2024
Features / 6 September 2024
6 September 2024
SOLOMON HUGHES exposes how executives behind lethal cladding have pocketed £302 million since the tragedy, as Labour frontbenchers continue to schmooze at luxury conferences funded and organised by implicated firms
Chancellor of the Exchequer Rachel Reeves during a press con
Britain / 21 August 2024
21 August 2024
Unite general secretary Sharon Graham calls for wealth tax