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Part of our Business and Climate Change Series, this presentation explored how the Green Investment Bank has delivered on its objectives and its plans for future development.The GIB, the first of its kind in the world, was formed as a public company in May 2012, and became fully operational in October 2012 when it was granted State Aid approval by the European Commission to make investments on commercial terms. Its remit is to co- invest in UK projects which are both green and commercial alongside private sector finance. Since its creation the GIB has co-invested over 600m on a range of projects totalling 2.3billion.
Its mandate from Government is to deploy at least 80% of its capital in offshore wind; waste recycling and energy from waste energy efficiency, including support for the Government's Green Deal. It measures its green impact in terms of reducing greenhouse gas emissions; increasing natural resource efficiency; protecting the natural environment; enhancing biodiversity and promoting environmental sustainability.