DEFINITION: The financial institution was created by the UK Government in November 2012 to invest in green projects on commercial terms and mobilise other private sector capital into the UK's green economy. The GIB has invested £2.7bn in more than 85 UK green infrastructure projects, ranging across wind energy, biomass and energy-from-waste (EfW) facilities. In April 2017, the UK Government completed the sale of the GIB to Australian investment bank Macquarie today (20 April) for a sum of £2.3bn.
Green Investment Bank (GIB)
Study: World set to hit 'peak oil' by 2030 as energy majors shift to renewables
The world's largest oil and gas companies increased investment in clean energy by 34% in 2020, despite a 6% fall in global energy demand caused by the coronavirus pandemic, according to new research.
IEA: Renewables set to attract 70% of global energy investment in 2021
Global energy investment is likely to rebound to pre-pandemic levels this year, with most finance going towards renewables - but, ultimately, the new generation capacity financed will not be compatible with long-term climate goals.
Investors and businesses urged to address $700bn nature-based solutions finance gap
A new report has warned that a $700bn investment gap into "Nature-based Solutions" needs to be addressed in order to meet wider net-zero goals and combat the climate crisis.
Green groups call for assurances over National Infrastructure Bank
A host of green groups have written to the Chancellor of the Exchequer Rishi Sunak, urging for the implementation of a UK National Infrastructure Bank (NIB) to de-risk private investment into low-carbon solutions.
Bloomberg NEF: Pandemic's effect on renewable energy investment has hit developing nations hardest
Covid-19 has slowed renewable energy investment globally in 2020 - but developed nations are likely to see similar levels of investment to 2019, which was a record year, while developing nations will take a bigger hit.
£160m Government funding boost for improving energy efficiency of social housing
The UK Government has launched a new £160m fund to support social housing providers in making properties more energy efficient.
How will the offshore wind sector's expansion affect biodiversity? UK Government launches major research drive
A four-year research programme assessing the potential impact that the UK's offshore wind sector will have on marine ecosystems as it grows has been launched.
Councils throw support behind Climate and Ecological Emergency Bill
More than 100 local authorities and councils have publicly backed the Climate and Ecological Emergency (CEE) Bill, which is set to be debated in Parliament next month and calls for the UK to do more to tackle its contribution to the climate crisis.
UK Government issues first 'green transition loan' for business
The UK Government has issued its first state-backed 'green transition loan' for a business, providing engineering and energy consultancy Wood Group support to scale up low-carbon product and service offerings.
Government funnels £91m into ultra-fast charging projects and extended-range EVs
Projects that increase the range of electric vehicles (EVs), create batteries that can charge in as little as 12 minutes and hydrogen-powered heavy goods vehicles (HGVs) have all been awarded a share of £91m from the UK Government.
COP26 Action Tracker: Nations urged to respond to IPCC report as Cambo oilfield row rolls on
With less than 100 days to go until COP26, this new series from edie will provide a regular temperature check of global climate action from nations and businesses.
Hydrogen buses, rapid response vehicles and forklift trucks bag share of £2.5m Government funding pot
A string of hydrogen transport projects in the Tees Valley region have won a share of a £2.5m Government competition funding pot for research and development.
UK allocates first round of support from £500m Blue Planet Fund
Global projects focused on protecting oceans and combatting the climate crisis have been awarded a share of the UK's £500m Blue Planet Fund.
Councils to have declared 'climate emergency' still backing road and airport expansion, BBC finds
A swathe of councils in England have made 'climate emergency' declarations in recent years, but an analysis from the BBC has found that more than one-third are still planning high-carbon infrastructure.
Google owner outlines how it is spending proceeds from world's largest corporate sustainability bond
August 2020 saw Google's parent company Alphabet Inc issuing what it claimed was the largest corporate sustainability bond in history. It has now revealed how it has spent 61% of the $5.75bn (£4.4bn) proceeds.
Government ponders role of nature-based solutions in local recovery strategies
The Government has opened a consultation to gain a better understanding of how nature-based solutions can assist with local strategies to contribute to rewilding and the Environment Bill, as part of a wider move across England to create or restore 500,000 hectares of wildlife habitat.
Humber region to benefit from £260m offshore wind investment
More than £260m has been granted in Government funding to develop next generation wind turbines in the Humber region, in a move that will support the UK's net-zero vision while creating and safeguarding more than 1,000 green jobs.
Multi-million-pound government funding boost for researchers exploring climate and social benefits of trees
Six research projects, assessing the role of woodlands in creating a sustainable future in the UK, have been selected to receive a share of a new £10.5m Government fund.
Renewable energy investments reach new heights for first half of 2021
Investment into clean energy projects and companies swelled to $174bn in the first half of 2021, with record levels of public market financing offsetting a decline in renewable project investments.
ArcelorMittal eyes $10bn investment to reduce emissions by 2030
Steel manufacturing giant ArcelorMittal has announced plans to reduce carbon emissions by 25% by 2030 as part of a wider net-zero ambition for 2050, with the new target set to be back by a $10bn investment into low-carbon and circular solutions.
Conservation and restoration projects secure share of £80m green recovery fund
Almost 100 nature-based projects will receive a share of the Government's £80m Green Recovery Challenge Fund, designed to promote nature restoration and conservation.
'Postcode lottery' of charging access and costs undermining UK's EV revolution plans, MPs warn
The UK's 2030 ban on new petrol and diesel car sales is not yet being supported by adequate plans for improving access to electric vehicle (EV) charging or for improving electricity networks, MPs are warning.
Japan's new renewables targets and Leeds' Climate Innovation District: The sustainability success stories of the week
As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.
Innovation Strategy: UK Government bets on nature-based climate solutions and CCUS
Energy and environment technologies have been named as one of seven priority focus areas of the UK's new Innovation Strategy, designed to increase annual public R&D to a record £22bn.
Highways England seeks road to net-zero by 2050
Highways England has unveiled plans to reach net-zero across its operations by 2030 as part of a step to deliver net-zero travel across English roads by 2050.
Circular economy attracting $1.3trn in annual investments, but dwarfed by linear spending models
Governments, investors and corporates collectively funnel more than $1.3trn annually into circular economy initiatives, but this is just a fraction of the money that is currently spent on linear methods of consumption and resource use.
Six UK green policy stories you need to know about
The past few days have seen the UK Government making a flurry of announcements on green policy packages and spending pots. Here, edie rounds up the major headlines in brief.
'Clarity and confidence for the road ahead': Green economy reacts to Transport Decarbonisation Plan
The UK Government's Transport Decarbonisation Plan is set for publication today (14 July), outlining plans to align all domestic travel and logistics with the national net-zero target. Here, we round up the reaction to this policy package from thought leaders and key organisations across the green economy.
Give UK local authorities new powers to accelerate net-zero transition, Mayors urge Government
More than 30 mayors and council leaders from across the UK have co-signed a new communique urging the Government to grant them additional funding and powers to transition to net-zero across sectors including energy, transport and the built environment.
Analysis: Two-thirds of UK finance firms have climate targets, but most are failing to shift investments
While most of the UK's biggest banks and asset managers have updated their climate targets in light of net-zero, finance flows are still ultimately favouring high-carbon projects and businesses, according to new analysis of more than 1,200 financial institutions.
Report: UK green jobs set to be better-paid than roles in high-carbon industries
New jobs created to help drive the UK's transition to net-zero could pay 18% more than the national average salary - and 30% more than the average salary offered by companies in high-emitting sectors.
#SustyTalk: Ashden's Harriet Lamb on scaling international climate finance
edie's #SustyTalk interview series continues with an exclusive discussion with Ashden's chief executive officer, Harriet Lamb, focusing on climate solutions.
Net-zero energy transition: UK Power Networks and Northern Powergrid outline £7.7bn investment plans
Electricity distributors UK Power Networks and Northern Powergrid have outlined business plans backed by £4.5bn and £3.2bn of spending respectively, both with a heavy focus on low-carbon generation and technologies.
Investors worth €3.6trn collaborate to promote just transition to net-zero
AXA, Aviva France and Eiffel are among the members of a new coalition of investors convened to promote a just low-carbon transition across Europe. Collectively, members represent €3.6trn of assets under management.
UK's 'poorly mixed cocktail' of policy driving biodiversity decline, MPs warn
The UK is not treating biodiversity loss with the same urgency as the climate crisis, according to a group of MPs that have warned that current Government policies are inadequate to address a sharp decline in nature-based losses.
Recovery plans fall short of EU green spending goals, campaigners warn
As the European Commission starts endorsing national recovery plans submitted by EU countries, campaigners are growing concerned that the EU executive may not fully enforce the fund's green spending target.
UK's National Infrastructure Bank launches, with tackling climate change as key objective
The UK's National Infrastructure Bank (NIB) is launching in Leeds today (17 June), with Chancellor Rishi Sunak promising that it will funnel billions of pounds into the UK's net-zero transition.
UK Government commits to 'nature-positive' future following landmark biodiversity review
Following the publication of the landmark Dasgupta Review, which argued the case for biodiversity considerations to be embedded in all economic decisions by the government, a new commitment for all large infrastructure projects to be 'nature positive' has been made.
WRAP: 2020 was record year for food redistribution by UK firms
More than 92,000 tonnes of surplus food was redistributed in the UK last year, marking a 45% year-on-year increase, partly caused by the response to Covid-19.
Can the Taskforce on Nature-related Financial Disclosures solve the global ecological crisis?
The Taskforce on Nature-related Financial Disclosures (TNFD) officially launched on Friday (4 June) with an overarching aim to align corporate reporting and financial spending to alleviate nature-related risks. Here, edie explores whether the new initiative can generate enough momentum to deliver tangible change.
Unilever, Google and Amazon among new Business Alliance to Scale Climate Solutions
Major businesses including Salesforce, Amazon, Netflix, Unilever and Microsoft have formed a new alliance aimed at mobilising funding for scalable climate solutions.
London Mayor Sadiq Khan declares 'retrofit revolution' to slash building emissions
London will soon host a new £3.5m 'centre of excellence' to help social housing providers retrofit their homes, and City Hall has also entered a new partnership deal that could unlock £10bn of private finance to cut building emissions.
WWF: UK banks and investors financing projects with double nation's climate impact
UK banks and asset managers collectively financed projects emitting 805 million tonnes of greenhouse gases in 2019 - around twice the UK's annual national carbon footprint.
UK's ultra-rapid EV charging stock to triple with new £300m funding package
The UK's energy networks have jointly pledged a further £300m in funding for low-carbon technologies across 200 projects, including almost 1,800 new ultra-rapid electric vehicle (EV) chargers.
UK's retrofit industry must grow by ten times to play role in reaching net-zero
The UK's retrofitting industry needs to grow by ten times its current size if the UK is to decarbonise its housing stock at a pace suitable for the wider net-zero emissions target, new research has revealed.
UK’s largest community-owned solar park to come online next year
The Ray Valley Solar project in Oxford is expected to come online next autumn, after Triodos Bank confirmed lending for what is expected to be the UK’s largest community-owned solar park.
#SustyTalk: Countdown to COP26 with Natural England's Tony Juniper - Environment Bill and nature-based solutions
With COP26 less than six months away, edie has launched a new series of videos with high-level speakers, designed to inspire and empower your preparations for the conference. Up next, Natural England chair Tony Juniper.
Trees, peat and net-zero: UK to enshrine new nature goals in law
The Government is set to enshrine a commitment to halt species decline and nature loss by 2030 in law and has pledged to treble tree planting this parliament.
In action: Skanska's rollout of EV charging with Pod Point
Skanska is aiming for net-zero emissions by 2045 and is committed to converting its fleet of company cars to electric. This "In action" guide explains how working with Pod Point on the integration of EV charge points is helping with these goals.
UK water sector outlines £2.8bn green recovery plan
The UK's major water companies have outlined plans to collectively funnel almost £3bn into environmental projects and sustainable infrastructure and processes, with the support of regulator Ofwat and the UK Government.
After Green Homes Grant failure, Government 'dodges' recommendations on energy-efficient homes
The Government has admitted that it did not consult stakeholders before launching the now-defunct Green Homes Grant scheme, in a document that MPs have said is evidence that it is shirking responsibility on domestic energy efficiency.
COP26 Primer: Clean Energy
edie’s COP26 Primer Reports are about seizing the green opportunity. Produced in the run-up to the official talks, this mini-series of reports are based on the five key themes of COP26: Clean Energy, Clean Transport, Climate Resilience, Nature-Based Solutions, and Climate Finance.
Road to net-zero: UK business giants team up to accelerate investment in low-carbon transport
Uber and Lloyds Banking Group are among the founding members of a new business coalition working to unlock investment into low-carbon road transport systems.
Report: Just 6% of UK's tax revenue is 'green'
The share of UK tax revenue directly raised from supporting businesses and individuals to reduce their environmental footprint was just 6% in 2020, new analysis has revealed, as the Treasury faces mounting pressure to align with net-zero.
The Body Shop owner raises $1bn for first sustainability bond
Natura & Co, the parent company of the Body Shop and Avon, has issued what it claims is Latin America's largest sustainability bond to date, priced at $1bn.
'World's largest' coral reef restoration project backed by Mars Petcare
Mars Petcare brand Sheba has partnered with The Nature Conservancy to deliver what it claims is the world's largest coral restoration programme, covering more than 185,000 square metres.
UK Government 'unable to prove it will meet green R&D targets'
The UK Government has not outlined how it will deliver on plans to ramp up green R&D funding in fields like construction, manufacturing, transport and plastics, MPs have claimed, as they call for an "overhaul" of the funding process.
Investors worth £10trn outline policy vision for sustainable finance in net-zero transition
UKSIF, which represents more than 260 members with more than £10trn of assets under management, has called on the Government to better support a 'just' transition to net-zero.
MPs accuse Treasury and HMRC of shirking climate responsibilities
The Treasury and HMRC are failing to respond to a "climate storm breaking all around us", failing to make the necessary changes to tax systems and short-term funding packages needed for the 'just' transition to net-zero.
BlackRock launches temperature-aligned investments funds
The world's largest investor BlackRock has unveiled two new temperature-based exchange funds aimed at helping investors align portfolios with the pathways of the Paris Agreement.
Amazon and Unilever among businesses teaming with governments on $1bn deforestation pledge
A group of businesses including Amazon, Unilever, and Nestlé has joined the UK, US and Norwegian governments in setting up a new public-private initiative committing $1bn to combat the climate crisis through the conservation and preservation of tropical forests across the globe.
Treasury could mandate UK financial firms to add climate labels to products
HM Treasury has today (22 April) published the results of its two-year review on how the financial system must change to support the net-zero transition, recommending changes to tackle greenwash, empower consumers and properly prepare government departments for future costs.
Ditch fossil fuel finance, $11trn investor coalition tells big banks
A coalition of 35 major investors with $11trn of assets under management collectively are calling on banks to "enhance" their climate targets, backing up long-term visions with action in the short-term.
Regenerative agriculture and AI for solar: Google funnels €10m into projects tackling climate change
Google's charitable arm Google.org has outlined how it will allocate a €10m Impact Challenge on Climate funding, naming winners in fields including solar farm optimisation and regenerative farming.
Additional $600m for low-carbon solutions as BlackRock forms new investment partnership
The world's largest investor, BlackRock, has forged a new partnership with Singapore-based Temasek to scale up investment in low-carbon technologies.
Europe risks €87bn in stranded fossil gas assets, report reveals
Europe is already building or planning to build €87bn worth of fossil gas infrastructure in a continued expansion of pipelines and LNG terminals, despite the need to halve emissions by 2030, according to a new report published on Thursday (8 April).
Uber's EVs and Hubbub's network of food waste heroes: The sustainability success stories of the week
As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.
Reckitt partners with WWF, pledging £10m donation
Reckitt, the parent company of brands including Air Wick and Dettol, has announced a three-year partnership with WWF focusing on nature conservation.
Green Homes Grant scheme to officially close this week, UK Government confirms
The UK Government has confirmed that it will axe its Green Homes Grant Scheme, which had £1.5bn of its £2bn funding pot withdrawn, on Wednesday (31 March).
UK's net-zero transition will create up to 1.7 million green jobs this decade, report finds
If the UK Government adopts the Climate Change Committee's Sixth Carbon Budget advice and supports businesses accordingly, some 1.7 million new 'green-collar' jobs can be created by 2030.
'Outrageous hypocrisy': Government condemned over £16bn oil and gas sector 'bailout'
Green groups have expressed their anger at the Government's new £16bn sector deal that pledges to align the oil and gas sector with the national net-zero target, while also ending financing for overseas fossil fuel projects, with many frustrated by a refusal to end oil and gas licensing.
'Woefully inadequate': MPs slam Government's energy efficiency plans after Green Homes Grant fiasco
The UK will miss its long-term, legally binding climate targets unless the Government addresses energy efficiency in homes as a priority, MPs are warning.
Is biodiversity being forgotten in sustainable corporate finance?
EXCLUSIVE: The issuance of sustainability bonds and sustainability-linked loans in the private sector is gathering pace, but are businesses using them to help avert the nature crisis?
'Another vital step to net-zero': Green economy reacts to the Industrial Decarbonisation Strategy
The UK Government has unveiled a new Industrial Decarbonisation Strategy that will spur rapid decarbonisation across industry, the public sector, construction and manufacturing. But do green groups believe the strategy will put the nation on course for net-zero by 2050?
The 2021 Sustainable Business Leadership Report
edie's annual survey reveals what "business leadership" looks like for sustainability, CSR and energy professionals across the UK, following our first two reports in 2019 and 2020. With businesses responding to the pandemic in different ways, leadership is being redefined.
Six changes to UK green policy that you need to know about this week
The UK Government has announced several important changes to green policy packages this week. Here, edie rounds up the flurry announcements from BEIS, Defra and the Treasury.
HSBC to vote on phase-out of fossil fuel funding
HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.
Big Issue launches climate solutions fund as CaixaBank issues €1bn SDG green bond
The Big Issue Group (TBIG) has partnered with Aberdeen Standard Investments to create a new climate solutions investment fund, while Spanish retail bank CaixaBank has issued a €1bn green bond in alignment with the Sustainable Development Goals (SDG).
Government confirms 2030 ban on petrol and diesel cars, unveils £20m electric vehicle package
The Government has officially confirmed that the ban on sales of new petrol and diesel cars has been moved forward to 2030, while also announcing a new £20m funding pot for electric vehicle (EV) innovation.
EIB spent €890m on fossil gas since phase out pledge, activists say
The European Investment Bank (EIB) has invested €890m in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank's "gas is over" narrative, activists say.
Budget 2021: Sunak confirms Net-Zero Innovation Fund, announces freeports to spur green investment
Rishi Sunak delivered his Budget for 2021 today (3 March), pledging to put green investment at the heart of the UK's economic recovery from Covid-19. But the Chancellor has come under fire for failing to mention a number of critical policy enablers for the UK's net-zero carbon transition.
Meet edie's 30 Under 30 Class of 2020: Dominic Pybus, UK Parliament
This new series profiles the members of edie's 30 Under 30 - a nomination-based community of 30 hugely talented young sustainability and energy professionals who have already achieved great things or are showing fantastic promise. Up next: UK Parliament's energy manager Dominic Pybus.
Aviation fuel made from air and next-gen hydropower: The best green innovations of February 2021
Every month, numerous eye-catching and potentially transformational innovations are being developed to help businesses and nations turn their green ambitions into actions. Here, we round up six of the best from February 2021.
Report: Strong net-zero policy could help UK attract £350bn of investment by 2050
The low-carbon energy transition in the UK could lead to the development of £350bn of investible assets by 2050 - but only if businesses and policymakers do more to support key sectors.
Budget 2021: Businesses and charities make last-minute calls for green funding to Rishi Sunak
With the 2021 Budget being announced on Wednesday (3 March), Chancellor Rishi Sunak is facing mounting pressure over the Green Homes Grant, National Nature Service and other green policy decisions.
Budget 2021: Rishi Sunak 'set to unveil green savings bonds and net-zero innovation programmes'
Chancellor Rishi Sunak has confirmed that he will launch green savings bonds at the Budget on Wednesday. There are also media reports of a £1bn portfolio to support innovations that will accelerate the UK's net-zero transition.
Mission Possible: Achieving a green recovery for the public sector
edie's Mission Possible campaign has evolved to focus on the green recovery, with a new series of reports outlining the challenges that businesses in key sectors face in relation to the coronavirus pandemic, and the opportunities that the green recovery will bring. Up next, the public sector.
Heathrow secures Government funding to develop net-zero aviation roadmap
Heathrow Airport has secured Government funding for a project dedicated to developing a blueprint for delivering a net-zero UK aviation sector, by or ahead of the national 2050 deadline.
Green recovery: MPs call for VAT breaks for energy efficiency, electric vehicles and circular economy
MPs are urging Boris Johnson's Government to take a broader "green recovery" approach, going beyond low-carbon electricity and transport to provide policy supports for nature restoration and the circular economy.
Defra unveils £10m fund for nature-based climate solutions
The Government has unveiled a new £10m fund to support nature-based projects that combat the climate crisis, in the same week that Oxford University launched a new venture studio designed to uncover similar solutions.
Wealthy nations still well short of $100bn climate finance promise
Wealthy nations are failing to address a finance gap on the long-standing pledge to mobilise $100bn (£72.5bn) annually to help developing nations adapt to the climate crisis, according to new research from Oxfam which found that up to £57bn may not be delivered across a six-year period.
UK Power Networks funnels £80m into net-zero projects
The network operator that provides energy to more than 18 million people across London and the South East has launched an £80m fund to support projects that will contribute to the UK's net-zero emissions target for 2050.
Sustainability Leaders Awards 2021: Meet the Winners
This special report provides in-depth profiles of all of the winners of edie's 2021 Sustainability Leaders Awards, along with exclusive comments from our judges and summaries of all 189 finalists across 24 categories.
Robert Downey Jr launches ESG venture capital funds
Renowned actor and producer Robert Downey Jr. has launched a new Environmental, Social and Governance (ESG) venture capital investment fund aiming to support sustainability products and services, clean energy and resource efficiency.
World's biggest tech firms 'dedicate just 4% of lobbying efforts to climate change'
Analysis of the lobbying activities of Apple, Amazon, Facebook, Microsoft and Google's parent firm Alphabet has revealed that they allocated just 4% of their annual lobbying resources to efforts to combat climate change.
Boeing planning to debut 100% biofuel planes by 2030
Boeing Co has unveiled plans to deliver commercial aircraft capable of using 100% biofuel by 2030. Using existing technologies under current regulations, it can only use biofuel blends of up to 50%.
Exeter to play host to UK's first national circular economy 'hub'
UK Research and Innovation (UKRI) is investing £3.5m to create a new circular economy hub at the University of Exeter, which will be used to coordinate research and development across the country.
Developed nations accused of over-reporting climate adaptation finance by billions
Wealthy nations have exaggerated figures around how much finance they have provided to developing countries for climate adaptation, with up to $20bn less spent than promised between 2013 and 2017.
Five ways to ignite behavior change on energy use
This report showcases the output of edie's SPARK! event, where expert energy professionals from a range of sectors shared experiences driving engagement to change behaviours around energy use.
Six ideas to achieve your flexible energy future on the road to net-zero
This report showcases the output of edie's SPARK! event, where expert energy professionals from a range of sectors discussed the role that smart and flexible energy technologies and systems will play in the net-zero transition.