UK Green Investment Bank hosts global meeting of green banks

16 Oct 2013



The UK Green Investment Bank (GIB) will this week host green banks from around the world at the inaugural Green Bank Congress.

The two day event will bring together leaders in green finance from North America, Europe and Asia.

Delegates will include senior representatives from green banks and development banks globally including New York, Connecticut, Germany, Japan, Malaysia, Australia and the European Investment Bank. Representatives from the UN and the US Energy Department will also attend.

The event will be held at GIB's Edinburgh headquarters and will focus on the theme of maximising green impact.

Discussions will focus on: business models; funding strategies and financial products; innovation in green sectors; developing a support infrastructure for green banks; community renewables; and, appraising, reporting and monitoring green impact.

Lord Smith of Kelvin, chairman of the UK Green Investment Bank, will chair the event. He said:

The UK Green Investment Bank is the first dedicated bank of its type in the world. Since its inception we have seen other countries set up similar banks, building on the existing network of successful development banks. Collectively, these banks are playing a critical role in helping their economies become greener, faster. They are bringing capital and innovation to projects that are key to achieving our climate change obligations while creating attractive new investment opportunities.

Like any new movement it is important that those involved have a space where they can discuss their progress and share good practice. We believe the Green Bank Congress will provide that space and will kick-off a new network that will support its members as they take on the challenges and opportunities facing them.

The UK Government's Business Secretary Vince Cable said:

We have broken new ground by being the first country to set up a dedicated green investment bank. So I am pleased that we are able to share our ideas and expertise with newer green banks from all corners of the world. he route to a greener economy is a global effort. The UK GIB has an important role to play in mobilising additional investment and laying the foundations for green growth.


Notes to editors

UK Green Investment Bank (GIB)

The UK Green Investment Bank was launched in November 2012.  With £3.8 billion of funding from the UK Government, it is the first bank of its kind in the world.  It is a "for profit" bank, whose mission is to accelerate the UK's transition to a greener economy, and to create an enduring institution, operating independently of Government.