Modern slavery statement

Modern slavery statement

UK Green Investment Bank Limited ("GIB") was created by the UK Government to back green projects on commercial terms across the UK and to mobilise other private sector capital into the UK’s green economy. In GIB's financial year ending 31 March 2017 (the "Relevant Financial Year"), GIB made equity investments and provided debt finance to projects.

To comply with the requirement of Section 54 of the Modern Slavery Act 2015 (the "Act"), this statement is made by GIB for the Relevant Financial Year. As a matter of good practice, where relevant this statement also covers GIB's wholly-owned subsidiaries (together with GIB, the "GIB Group"), even though this approach goes beyond the legal requirement in the Act.

This statement contains details of the steps that GIB took during the Relevant Financial Year to ensure that neither slavery nor human traffiking (together, "Modern Slavery") was taking place in the business or supply chains of the GIB Group. This statement considers the risk of Modern Slavery occuring in the business or supply chains of the GIB Group (for example, including consideration of employement practices and the engagement of advisers and suppliers).

While not a legal requirement, this statement also contains details of the steps that GIB has taken to ensure that Modern Slavery is not taking place in the projects in which any member of the GIB Group has made an investment or to which any member of the GIB Group has made a loan.

In the Relevant Financial Year GIB:

(a) recruited and employed staff and procured and engaged suppliers and advisers in each case in accordance with robust policies and procedures which seek to minimise the risk of Modern Slavery occuring in the GIB Group, including by only engaging with reputable and credible suppliers and advisers and sought to incorporate standard terms into supplier and adviser engagements which required compliance with all applicable laws (which would include the Act);

(b) maintained robust policies and procedures to require employees of the GIB Group to raise concerns about any issues at the earliest possible stage, which would include any concerns relating to Modern Slavery occuring in the business or supply chains of the GIB Group; and

(c) remained commited to deploying capital and expertise as a responsible investor and took environmental, social (including Modern Slavery) and governance issues into consideration as an integral part of the entire investment and lending process.

In August 2017 GIB joined forces with Macquarie Group. The new, fully integrated, business brings together the GIB and Macquarie Capital's renewable team and has now been renamed Green Investment Group ("GIG"). In the financial year which will end on 31 March 2018, Macquarie Group's activities undertaken to identify and mitigate the risk of modern slavery in its supply chain or business shall be expanded to cover GIG. The Macquarie Group Modern Slavery Act Transparency Statement for the financial year ending 31 March 2017 is available at: http://www.macquarie.com/uk/about/disclosures/regulatory-disclosures.

This statement was approved by the Board of GIB on 27 September 2017 and will be signed by a Director of GIB and published on GIG's website, with a link to the statement in a prominent place on GIG's homepage.

 

Euan McVicar

Director, UK Green Investment Bank Limited

28 September 2017