The British government appointed the chair and deputy chair of a newly launched investment bank intended to drive funding for green enterprises and social causes. The bank, the UK Green Investment Bank plc, has been formed as a public company and will be launched upon approval of EU State Aid for the bank and the passage of new legislation which is part of the Enterprise and Regulatory Reform Bill. The UK GIB aims to secure investment in the de-carbonization of Britain’s energy supply. The UK government’s early preparations for the launching of the bank illustrate what the bank’s role in the field of green technology will become. These actions have included the formation of two funds focused on the waste sector, committing £80 million to its funding, and the launch of a search for fund managers to manage a £100 million fund dedicated to non-domestic energy efficiency projects.

Source: Business Green article on bank launch

Read more on the bank at business Green

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