Edinburgh is to be the location of the worlds first green investment bank headquarters, the UK business secretary has announced. The banks main transaction team will be based in London. Other cities, like Manchester, Leeds, and Birmingham bid for the honour but lost out to the Edinburgh-London combination. The GIB will be the world’s first investment bank solely dedicated to greening the economy and will spend UK£3 billion (US$4.737 billion) between now and 2015.
Business Secretary Vince Cable said: "Edinburgh has a thriving green sector and respected expertise in areas such as asset management. London, as the world’s leading financial centre, will ensure that the GIB’s transaction team can hit the ground running. This decision will allow the UK GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy." Read more ...
Business Secretary Vince Cable said: "Edinburgh has a thriving green sector and respected expertise in areas such as asset management. London, as the world’s leading financial centre, will ensure that the GIB’s transaction team can hit the ground running. This decision will allow the UK GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy." Read more ...
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