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Introduction to the Green Investment Bank. Investing in Infrastructure – Exploring the Challenges to Effective Delivery. Belfast Speaker: Adrian Judge 13 th February 2013. WHY CREATE A GREEN INVESTMENT BANK?.
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Introduction to the Green Investment Bank Investing in Infrastructure – Exploring the Challenges to Effective Delivery Belfast Speaker: Adrian Judge 13th February 2013
WHY CREATE A GREEN INVESTMENT BANK? • The Government has ambitious green targets, with a suite of policies in place to support their achievement • Even after these measures, finance-related issues will continue to limit the scale and pace of the transition to a green economy • The market challenge has been exacerbated by the impact of the global financial crisis on bank balance sheets, and in particular on the market for long-term project debt • The Coalition Agreement of May 2010 committed to setting up a Green Investment Bank
OVERVIEW Mission • To accelerate investment in the UK’s transition to a green economy and to create an enduring institution, operating at arm’s length from government • £3bn to invest over 3 years, starting April 2012 • State Aid Approval granted 17th October 2012 • GIB now fully operational • Investments already announced across all sectors Funding GIB
GIB – WHAT WE ARE Enduring Institution • “For profits” organisation, seeking a commercial risk-adjusted rate of return on its investments • Does not “crowd out” private sector • Mobilising other capital – “crowd in” • Priority Sectors: • Offshore Wind • Non Domestic Energy Efficiency + on site renewables • Green Deal • Waste (Recycling & Energy) • Other: (e.g. biomass, biofuels, renewable heat) Additional Green UK
GIB – WHAT WE ARE (cont’d) Responsible Investor • Clients need to meet highest environmental, governance and social standards • We can offer debt, mezzanine, equity, guarantees • Scope to develop new products • Supporting Government’s green policies • £3bn capital vs. total priority sector investment funding requirement to 2020 of > £200bn Flexible bespoke solutions Policy Consistency Recycle Capital
GIB – WHAT WE ARE NOT • Provider of grants / regional assistance • Provider of subsidised debt / equity • Taker of high risk / low reward • Provider of Venture Capital • Provider Development Equity • Financial Advisors
Contact details Shaun Kingsbury Chief Executive Officer 0330 123 3050 shaun.kingsbury@greeninvestmentbank.com Ian Nolan Chief Investment Officer 0330 123 3054 ian.nolan@greeninvestmentbank.com Stephen Crane Managing Director0330 123 3069 stephen.crane@greeninvestmentbank.com Offshore WindCharles Abel Smith Director NDEE 0330 123 3048charles.abelsmith@greeninvestmentbank.com Adrian Judge Managing Director0330 123 3041 adrian.judge@greeninvestmentbank.com Waste & BioenergyEdward Northam Managing Director 0330 123 3052 edward.northam@greeninvestmentbank.com Waste & Bioenergy London13th Floor 21-24 Millbank SW1P 4QP EdinburghExchange Place 2 5 Semple Street Edinburgh EH38BL 1
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