Sale of AIB shares could fund green infrastructure, says Labour

Labour will ringfence €1bn to replace Ireland’s public bus fleet, set up a cycle-to-school scheme, and expand the better energy warmer homes scheme to retrofit 225,000 homes, in a bid to promote the green economy in the next government.

The plans were launched by Energy Minister Alex White as he failed to rule out challenging Tánaiste Joan Burton as leader, should the party lose power.

Under its pre-election policy document — which does not contain any reference to the recent COP21 world climate change commitments — Labour intends to set up a €1bn green infrastructure fund, half of which will be paid for by selling 25% of the State’s AIB shares.