The Business Secretary Vince Cable announced today that the first ever UK Green Investment Bank (GIB) will be based in Edinburgh and London.
The headquarters of the GIB will be located in Edinburgh, with the GIB’s main transaction team based in London. This arrangement will enable a greater commercial reach nationally than could be achieved from one location.
Sitting the bank across these two locations will enable the GIB to become a world leader, playing to the strengths of Edinburgh and London.
Mr Cable said: "Harnessing the strengths of Edinburgh and London will support the Green Investment Bank's ambition to become a world leader. 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 GIB to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy."
Scottish Secretary Michael Moore said: "I am delighted that the Green Investment Bank will be headquartered in Edinburgh. Scotland has enormous green energy potential and its capital is the UK’s second biggest financial centre.
"The size and scale of the UK’s single energy market ensures the level of investment that will unlock Scotland’s renewables future, providing sustainable and affordable green energy across the UK. It makes perfect sense to have a GIB presence there.
"By basing the GIB’s corporate HQ, asset management and administrative functions in Edinburgh and its transaction team in London, we can harness expertise across the country to deliver a strong and successful GIB for the UK."
The next step for the GIB is the recruitment of the Chair and Senior Independent Director so that it will be in a position to be fully operational this Autumn, subject to state aid approval for the GIB. The GIB is expected to employ 50-70 full time equivalent staff across the two sites.
(CD/GK)
Construction News
09/03/2012
First GIB To Be Based In Edinburgh And London

15/07/2025
Time is running out for residents to have their say on one of the most ambitious and high-profile developments proposed for Falkirk town centre in decades.
With just two weeks remaining before the consultation closes, Falkirk Council is urging people from across the area to share their views on the

15/07/2025
An award-winning principal contractor is celebrating the achievements of its staff as five team members reach 10 years with the company.
Hamilton-based firm, Procast Group, has recognised the longevity and excellent service of Gillean Watters, Brian Innes, Ryan Crawford, James Mimiec and Gabor Van

15/07/2025
Clark Contracts has successfully completed the design and build of a £30 million purpose-built student accommodation (PBSA) development on Mayfield Road in Edinburgh for Lanark Student Living.
The new facility, located directly opposite the University of Edinburgh's Kings Buildings campus, provides

15/07/2025
Scaffolding is set to rise around a prominent block of flats in Perth as Perth and Kinross Council begins a major structural maintenance programme aimed at preserving and improving its multi-storey housing stock.
The project is designed to ensure the buildings remain wind and watertight, energy-eff

15/07/2025
Farrans claimed success at this year's Construction News (CN) Awards after scooping Project of the Year in the £20m – £50m category.
The honours recognised the £29.5 million Govan to Partick Bridge project, for G

15/07/2025
The Eastern Green Link 2 (EGL2) project, a major joint venture between SSEN Transmission and National Grid Electricity Transmission, has reaffirmed its commitment to supporting the north-east economy, having already awarded over £9 million in contracts to businesses local to the project's northern l

15/07/2025
New research from Savills | Scotland Residential Development Market Summer 2025 warns that Scotland's housing market is facing a deepening crisis, as strict planning policies and rising development costs continue to stall new home delivery.
The housing emergency, declared in May 2024, has intensif

15/07/2025
Residents and businesses in Coatbridge are being encouraged to take part in an online survey to help shape the future of the town, as part of a major regeneration initiative backed by £19.5 million in UK Government funding.
The survey builds on community consultation held last summer and is designe

11/07/2025
Scottish Canals has announced that it is now halfway through its significant engineering programme on the Falkirk Flight of the Forth & Clyde Canal, an ambitious project spanning from locks 3 to 16.
This undertaking represents the biggest single investment in Scotland's canals since the Millennium

11/07/2025
The Construction Industry Training Board (CITB) has announced the elite line-up of finalists for SkillBuild 2025, bringing the nation's most promising construction trainees and apprentices one step closer to being crowned the best in their trade. Recognised as the largest and longest-running industr