Corporate
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
02 February 2016
The special share will be held by a separate company independent of both GIB and the Government, subject to the successful conclusion of a transaction. GIB would not be able to make changes to its green mission, as set out in the Objects of its Articles of Association, unless this Special Shareholder gives its consent.
GIB’s green mission requires each individual GIB investment to contribute to meeting one of five ‘green purposes’ and a wider portfolio which makes a positive overall reduction in greenhouse gas emissions (see detail below).
Sajid Javid
UK Business Secretary
Lord Smith of Kelvin
Chair of UK Green Investment Bank
Media enquiries
1. The green purposes of the UK Green Investment Bank, as set out in its Articles of Association are:
The Objects also require the Board of GIB to be satisfied that its investments, taken together, will or are likely to make a positive contribution to a reduction in greenhouse gas emissions.
2. Enterprise Bill 2015-16
The latest position on the Bill can be found here.
3. About the UK Green Investment Bank
UK Green Investment Bank plc (GIB) 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.
GIB is wholly owned by HM Government. The Company is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority. A wholly owned subsidiary UK Green Investment Bank Financial Services Limited, is authorised and regulated by the Financial Conduct Authority.