Created on: 2017-02-14 15:51:56
Last update: 2017-11-21 16:56:02
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About 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. Over the FY 2015-2016 UK GIB committed to capital investments of GBP 770 million.
On 3 March 2016 the UK Government launched a process to move the Green Investment Bank into the private sector, causing controversy regarding this decision. The preferred bidder for the shares is Australian bank Macquarie.
August 2017, the GBP 2.3 billion sale of the Green Investment Bank to Australia's Macquarie has been finalised, the bank's name changes 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.
Atria One Level 7 144 Morrison street
EH3 8EX Edinburgh
Edward Northam |
Head of the Green Investment Group
Annual Report and Financial Statements 2016–17|
Annual report 2015-2016
The UK Green Investment Bank is wholly owned by Macquarie Group Limited.
Voluntary initiativesGreen Investment Group has committed itself to the following voluntary standards:
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.