It might just be a coincidence, but anyone fearing the departure of Chris Huhne from the Department of Energy and Climate Change (DECC) could result in a watering down of the coalition's green policy ambitions received their Exhibit A this morning, as the news emerged that the long-awaited Green Investment Bank will "play it safe" with its lending activities. In an exclusive interview with The Times, Sir Adrian Montague, the financier tasked with overseeing the launch of the bank, insisted it will act in line with commercial lending principles, will not make risky investments in early-stage green technologies, will not offer preferential rates or other forms of support, will be tasked with delivering a dividend for the Treasury, and, finally, will emulate conventional development banks across Europe. The Green Investment Bank is bound to support plenty of admirable and effective green projects and will no doubt provide a significant boost to the UK's low-carbon economy. It is also to be hoped that Sir Adrian and the socially minded bankers he chooses to appoint can create a self-sustaining institution that may generate dividends for the cash-strapped Treasury. But the scale of the ambition, compared to the original plans for the bank, is starting to look pretty woeful. Imagine a Green Investment Bank that could offer Green Bonds to individuals and businesses, providing solid if unspectacular returns while allowing interested parties to play a proactive role in the UK's low-carbon economy. Yes, accounting rules may mean that it would end up adding to the deficit in the short term, but the boost in terms of jobs, tax receipts and low-carbon growth could be immense. Imagine a Green Investment Bank that could take a punt on early-stage clean-tech projects currently unable to secure commercial financing. Yes, some money would be lost on failed projects, but such a move could also secure the UK's leadership in areas such as marine energy, carbon capture and storage, and offshore wind.