These are external links and will open in a new windowEdinburgh would be an ideal home for the Green Investment Bank (GIB) being set up by the UK government, ministers have heard.Business Secretary Vince Cable and Scottish Secretary Michael Moore met business leaders in Westminster to discuss the Edinburgh proposal.Supporters argue it has the necessary expertise to be the bank's HQ.The GIB is being set up with £3bn of public money to help firms finance early-stage renewable energy schemes. Past performance of any product described on this site is not a reliable indication of future performance.
The UK Government has officially transferred ownership of the Green Investment Bank (GIB) to its new private sector owners. The alliance of Scotland's finance sector, power and renewable energy firms and universities claims Edinburgh has the required financial, energy and research expertise and the GIB would lack impact and openness if it were located in London.
Scotland has enormous green energy potential and its capital is the UK’s second biggest financial centre. The Green Investment Bank headquartered in Edinburgh and London has been sold to a Macquarie-led consortium for £2.3 billion. All securities and financial products or instrument transactions involve risks. These are external links and will open in a new window
Edinburgh has a thriving green sector and respected expertise in areas such as asset management. 24 June 2014. The Treasury secures … The controversial £2.3 billion sale of the Edinburgh-headquartered bank was agreed with a consortium led by Australian bank Macquarie in April. Its start-up capital is intended to match £15bn of private sector funding over the next four years. London, as the world’s leading financial centre, will ensure that the GIB’s transaction team can hit the ground running.“This decision will allow the GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy.”Scottish Secretary Michael Moore welcomed the news, commenting: “I am delighted that the Green Investment Bank will be headquartered in Edinburgh. Business Secretary Vince Cable said: “Harnessing the strengths of Edinburgh and London will support the Green Investment Bank’s ambition to become a world leader. "Support for the Edinburgh Green Investment Bank Group comes from the Scottish Renewables trade body, Scottish Financial Enterprise, the Scottish Chambers of Commerce and development agency Scottish Enterprise.It also has the support of Northern Ireland Chamber of Commerce.Although no competition for the location of the Green Investment Bank has been announced by the government, it is understood that lobbying could also come from Newcastle, Manchester and Leeds.The BBC is not responsible for the content of external Internet sitesRiot police again fire rubber bullets to quash protests, as the first unrest casualty is confirmed. Offshore wind power generation, commercial and industrial waste processing and recycling, energy from waste generation, non-domestic energy efficiency and support for the Green Deal will be the first priority sectors for the GIB, subject to approval by the European Commission.Don’t include personal or financial information like your National Insurance number or credit card details.To help us improve GOV.UK, we’d like to know more about your visit today. Green bank headquarters to be based in Edinburgh . A wholly owned subsidiary, Green Investment Group Management Limited, is authorised and regulated by the Financial Conduct Authority.
This arrangement will enable a greater commercial reach nationally than could be achieved from one location.Sitting the bank across these two locations will enable the GIB to become a world leader, playing to the strengths of Edinburgh and London.Business Secretary Vince Cable said: “Harnessing the strengths of Edinburgh and London will support the Green Investment Bank’s ambition to become a world leader. The GIB is expected to employ 50-70 full time equivalent staff across the two sites.An assessment of the applications from 32 locations across the UK found that Edinburgh and London were the two leading candidates. He said: "If we accept that the pace of development needs to be driven hard to meet policy targets, this kind of opportunity should not be missed.
We’ve committed or arranged over £20bn of capital to green energy assets The business will be led by senior Green Investment Bank executives, supported by key existing functions. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions. It makes perfect sense to have a GIB presence there.“By basing the GIB’s corporate HQ, asset management and administrative functions in Edinburgh and its transaction team in London, we can harness expertise across the country to deliver a strong and successful GIB for the UK.”The next step for the GIB is the recruitment of the Chair and Senior Independent Director so that it will be in a position to be fully operational this Autumn, subject to state aid approval for the GIB. March 30, 2011 5:52 pm GMT. The Green Investment Bank ensures all parts of the United Kingdom have the opportunity to be at the forefront of technologies that contribute to our climate change ambitions and support opportunities for economic development. That entity's obligations do not represent deposits or other liabilities of MBL. Green Investment Group Limited (GIG) is a specialist in green infrastructure principal investment, project delivery and the management of portfolio assets, and related services. The Business Secretary Vince Cable announced today (8 March) that the first ever UK Green Investment Bank (GIB) will be based in Edinburgh and London.The headquarters of the GIB will be located in Edinburgh, with the GIB’s main transaction team based in London. The Criticism also centred on the location of the institution. LONDON, March 8 (Reuters) - Britain’s Green Investment Bank, designed to spur private sector investment in low-carbon projects, will be based in Edinburgh … Two Green MSPs are lobbying the Scotland Office to intervene in the potential sale of the Green Investment Bank. Equivalent to removing 2.3 million cars from the roadGreen Investment Group Limited is part of the Macquarie Group.Green Investment Group Limited is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority. I’m delighted Edinburgh has been chosen to host the headquarters of the Green Investment Bank.