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\u2019s first priorities will be until 2016.<\/p>\n
The Green Investment Bank is designed to accelerate private sector investment in the UK\u2019s transition to a green economy.<\/p>\n
Business Secretary Vince Cable said:<\/p>\n
\u201cThere 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\u2019m 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.<\/p>\n
\u201cI 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.<\/p>\n
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.<\/p>\n