The UK Green Investment Bank plc (GIB) was created by the UK Government, the sole Shareholder, and capitalised with £3.8bn of public funds. We use this finance to mobilise private sector capital into the UK’s green economy. The GIB is a key part of the UK’s efforts to achieve its legally binding environmental targets. These targets require an investment of £330bn in the UK’s green economy by 2020.
The GIB's business model is not designed to plug the gap through our direct investments alone. We must invest in a way which demonstrates the attractiveness of the opportunity to so. To do that we must show that it is possible to invest in projects which are green and profitable – this is our double bottom line. As an institution investing public money, we must balance this sense of purpose with state aid restrictions agreed with the European Commission.