Green Investment Bank to establish a special share
Source: Blue & Green Tomorrow
The UK Government (the Government) has today announced that the UK Green Investment Bank (GIB) will create a ‘special share’ in the company as part of the process to introduce private capital to the organisation.
The special share will be held by a separate company independent of both GIB and the Government, subject to the successful conclusion of a transaction. GIB would not be able to make changes to its green mission, as set out in the Objects of its Articles of Association, unless this Special Shareholder gives its consent.
GIB’s green mission requires each individual GIB investment to contribute to meeting one of five ‘green purposes’ and a wider portfolio which makes a positive overall reduction in greenhouse gas emissions.