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Green Investment GroupUnited Kingdom
Created on: 2017-02-14 15:51:56
Last update: 2019-11-05 16:27:31
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The GIB Offshore Wind Fund is the first in the world to solely invest in offshore wind power generation. Photo: UK GIBAbout Green Investment Group
UK Green Investment Bank (UK GIB) was created in 2012 by the UK government to attract private funds for the financing of the private sector's investments related to environmental preservation and improvement. It is structured as a public limited company and is owned by the Department for Business, Energy and Industrial Strategy (BEIS). Its headquarters are in Edinburgh, and it has a secondary office in London. The bank funds green projects across the United Kingdom and mobilises other private sector capital into the UK’s green economy.
In March 2016 the UK Government launched a process to move the Green Investment Bank into the private sector, causing controversy. In August 2017, the GBP 2.3 billion sale of the Green Investment Bank to Australia's Macquarie was finalised. The bank's name changed to the Green Investment Group.
UK GIB became an Equator Principles signatory in March 2016. BankTrack profiled this financial institution as part of our Equator Principles Track and Chase Project.
| Website | http://greeninvestmentgroup.com/ |
| Headquarters |
Atria One Level 7 144 Morrison street
EH3 8EX Edinburgh
United Kingdom
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| CEO/chair |
Edward Northam Head Green Investment Group Europe |
| Supervisor | |
| Annual report | Annual report 2017-2018 |
| Ownership |
The UK Green Investment Bank is wholly owned by Australian banking group, Macquarie. |
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Policies
Voluntary initiatives
Green Investment Group has committed itself to the following voluntary standards:Investment policies
Green Investment Group's web page on corporate social responsibility can be accessed here.
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Campaigns
Green Investment Group and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Green Investment Group adopted the Equator Principles in 2013.
Reporting on the Equator Principles
Green Investment Group must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Green Investment Group is in compliance with its reporting obligations. The 2017 report can be found here.
Equator Principles
Implementation and reporting
Contact and complaints
Good moves
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