The Privatisation of the UK Green Investment Bank and Implications
Abstract：In November 2012, the world's first green investment bank – the UK Green Investment Bank (GIB) was established. The bank was founded with a mission of supporting green economy and maintaining profitability. The GIB restricted its business to offshore wind project, energy efficiency industry, waste treatment and bio energy, onshore renewable energy. To expand the "green investment bank" financing channels to attract private capital into the green economy investment, the British government launched the GIB privatisation process on 3rd March 2016. On 18th August 2017, Macquarie Group completed the acquisition of GIB. The successful experience of GIB includes emphasising on “Green” project selection criteria, establishing a modern financial enterprise regime and corporate governance structure, achieving sustainable business, developing an effective compensation system, and implementing specialisation and professional talent strategy.
Key words: Green Investment Bank; Privatisation; Green Fund