Green Investment Bank publishes Annual Report

25 Jun 2013



The UK Green Investment Bank plc (GIB) has published its first Annual Report, for the period to 31 March 2013.

The report is published to coincide with Annual Review meetings in Edinburgh (26 June) and London (27 June), where the Leadership Team will present the results to a wide range of stakeholders.

In Edinburgh, the guest speakers include Rt Hon Gregory Barker MP, Minister of State for Climate Change and in London, Rt Hon Vince Cable MP, Secretary of State for Business, Innovation and Skills.

Lord Smith of Kelvin, Chairman of the Green Investment Bank said:

We are building a new institution and want to behave with the highest standards of transparency and accountability, right from the start. Our Annual Report sets out full details of our investments and operations during our first few months; including details of our green impact. We are looking forward to the Annual Review events and engaging with all of our stakeholders to share our thinking and hear their views.

Shaun Kingsbury, Chief Executive said:

In our first, short year we've made great strides in putting in place the foundations upon which we will build an enduring institution. It remains early days but our first results show that we can be successful in achieving our double bottom line of being green and behaving commercially.

Business Secretary Vince Cable who will be attending the annual review meeting in London said:

The Green Investment Bank has a pivotal role to play in the financing of our transition to a green economy. It has already made a positive start, with £635 million committed to green projects and with every £1 invested leveraging another £3 of private investment. The bank has a number of strong deals in the pipeline, which will help it to build on the solid foundations that have now been laid.