GIB proposes ‘special share’ trustees

The Green Investment Bank (GIB) has revealed the names of the nominated trustees to run its “special share“. Earlier this year, the green bank unveiled details of the special share which […]

By Jacqueline Echevarria

The Green Investment Bank (GIB) has revealed the names of the nominated trustees to run its “special share“.

Earlier this year, the green bank unveiled details of the special share which aims to protect its green missions.

The GIB said it will be held by a separate company called Green Purposes Company (GPC), independent of the bank and the government and which will be run trustees selected by a Nominations Committee.

The nominees are Environmental Scientist James Curran, current Director of Advocacy at WWF Trevor Hutchings and board member of London Array offshore wind farm Tushita Ranchan.

Lord Teverson, Chair of the Lords’ EU Select Committee on Energy and Environment and Peter Young, Environmentalist and former Chair of Aldersgate Group have also been shortlisted.

The GIB added the special share will be issued to GPC at the point at which ownership of the bank is transferred from the government to a new owner. The nominated trustees will be formally appointed to their role by that point.

Investment in green projects will be part of the discussions at the Energy Live 2016 conference in London on Thursday. Join in the debate using #EL2016.