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Green Investment Bank

Green Investment Bank

The first Green Investment Bank is now a little closer to becoming a reality now that Business Secretary Vince Cable has published the criteria for deciding where the Bank will be based and what the Bank’s first priorities will be until 2016.

The Green Investment Bank is designed to accelerate private sector investment in the UK’s transition to a green economy.

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.

“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. Setting out the priorities for the Bank and establishing UK Green Investments for April 2012 are a major step forward.

The formal recruitment process for appointments to the Green Investment Bank board and senior management team will begin next month, with the appointment of the Chair being made in spring 2012.

Read more about the Green Investment Bank on their website.