12/12/2011
Green Investment Bank Plans Published
The Department of Business (BIS) has published plans to establish the first Green Investment Bank (GIB) to accelerate private sector investment in the UK’s green industry.
On Monday morning, Business Secretary Vince Cable published criteria for deciding where the Bank will be based and what the Bank’s first priorities will be until 2016.
According to the BIS, 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 Bank, subject to approval by the European Commission.
The criteria for deciding on a location for the bank were also published, with a view to a decision being made on a HQ site by the end of March.
Business Secretary Vince Cable said: “There is a great opportunity for British businesses to lead the transition to a green economy and stake a claim on a sector that has massive potential for growth. I’m pleased to see that more than 20 places recognise the impact the Green Investment Bank could make, and are expressing an interest in being its home."
The Business Secretary also announced that a new team will be set up within the Department for Business to "drive investment" in the UK’s green infrastructure until the Green Investment Bank is formally established.
The team, which will be called UK Green Investments (UKGI), will have access to £100 million to invest in smaller waste infrastructure projects on a fully commercial basis.
A further £100 million has been provided for investment in the non-domestic energy efficiency sector for next financial year. UKGI will also be available to co-invest in offshore wind projects.
“I want to set up the Bank as soon as possible, so it can start accelerating investments in these key sectors and help British companies take advantage of these opportunities," Mr Cable said.
He added: "Setting out the priorities for the Bank and establishing UK Green Investments for April 2012 are a major step forward."
(DW)
On Monday morning, Business Secretary Vince Cable published criteria for deciding where the Bank will be based and what the Bank’s first priorities will be until 2016.
According to the BIS, 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 Bank, subject to approval by the European Commission.
The criteria for deciding on a location for the bank were also published, with a view to a decision being made on a HQ site by the end of March.
Business Secretary Vince Cable said: “There is a great opportunity for British businesses to lead the transition to a green economy and stake a claim on a sector that has massive potential for growth. I’m pleased to see that more than 20 places recognise the impact the Green Investment Bank could make, and are expressing an interest in being its home."
The Business Secretary also announced that a new team will be set up within the Department for Business to "drive investment" in the UK’s green infrastructure until the Green Investment Bank is formally established.
The team, which will be called UK Green Investments (UKGI), will have access to £100 million to invest in smaller waste infrastructure projects on a fully commercial basis.
A further £100 million has been provided for investment in the non-domestic energy efficiency sector for next financial year. UKGI will also be available to co-invest in offshore wind projects.
“I want to set up the Bank as soon as possible, so it can start accelerating investments in these key sectors and help British companies take advantage of these opportunities," Mr Cable said.
He added: "Setting out the priorities for the Bank and establishing UK Green Investments for April 2012 are a major step forward."
(DW)
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27 June 2013
UK Green Investment Bank Receives £800m Extra Funding
Business Secretary Vince Cable today confirmed that the UK Green Investment Bank (GIB) will get £800m additional funding for 2015/16. Speaking at the GIB's first annual review event in London, he said this meant that the bank would be able to allocate £3.
UK Green Investment Bank Receives £800m Extra Funding
Business Secretary Vince Cable today confirmed that the UK Green Investment Bank (GIB) will get £800m additional funding for 2015/16. Speaking at the GIB's first annual review event in London, he said this meant that the bank would be able to allocate £3.
08 March 2012
First GIB To Be Based In Edinburgh And London
The Business Secretary Vince Cable announced today 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.
First GIB To Be Based In Edinburgh And London
The Business Secretary Vince Cable announced today 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.
17 February 2011
Green Economy Council Rise To The Low Carbon Challenge
The Green Economy Council has held its first meeting to discuss how government and industry can work together to support the transition to a green, low carbon economy and minimise the costs for business while maximising the opportunities.
Green Economy Council Rise To The Low Carbon Challenge
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18 February 2004
Red Cross 'concerned' over Israel's West Bank barrier
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Red Cross 'concerned' over Israel's West Bank barrier
Israel's West Bank barrier has drawn criticism from the International Committee of the Red Cross (ICRC), which says that it is "increasingly concerned" over the humanitarian impact the barrier will have on the Palestinian community.
01 August 2006
Bullied City worker receives £800,000
A City worker who claimed that she worked in the "department from hell" has won around £800,000 in a bullying case against Deutsche Bank at the High Court. Helen Green, 36, from Tower Hamlets, east London worked in the secretariat division at Deutsche Bank Group Services between 1997 and 2001.
Bullied City worker receives £800,000
A City worker who claimed that she worked in the "department from hell" has won around £800,000 in a bullying case against Deutsche Bank at the High Court. Helen Green, 36, from Tower Hamlets, east London worked in the secretariat division at Deutsche Bank Group Services between 1997 and 2001.
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