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)
Global banks 'failing miserably' on climate crisis by funneling trillions into fossil fuels, study finds
The world's largest investment banks have funnelled more than £2.2tn ($2.66tn) into fossil fuels since the Paris agreement, new figures show, prompting warnings they are failing to respond to the climate crisis.
UK Export Finance accused of climate 'hypocrisy' over funding
Updated: In the same week that the UK Export Finance’s (UKEF) direct lending facility has allocated more than £2bn for clean growth projects a global NGO has accused the government body of “rank hypocrisy” for breaching OECD guidelines by supporting overseas fossil fuel projects.
'A mixed picture': Key green economy figures react to the Budget's environmental provisions
After Chancellor Rishi Sunak opened his red budget box to reveal fresh funding for natural climate solutions and carbon capture and storage (CCS), edie rounds up what key green economy leaders make of the new financial measures for the net-zero transition.
WaterAid: Global climate finance insufficient to 'save lives and livelihoods'
Half of all countries receive less than £4 per person, per year, to spend on climate mitigation and adaptation, with developing nations facing the earliest and worst climate impacts among the most underfunded.
Peterborough unveils plans for UK's largest low-carbon 'smart-city' regeneration project
Peterborough City Council has unveiled a plan to host the UK's largest smart, low-carbon city energy system including renewable electricity generation, energy storage and heat networks.
CDP: Europe's biggest corporates must double green investments to reach net-zero
Some 880 of Europe's largest businesses collectively invested €124bn (£103.8bn) in low-carbon initiatives in 2019 - but this equates to just 12% of their capital expenditure, when 25% will be needed to meet the EU's 2050 net-zero target.
Amazon founder Jeff Bezos unveils $10bn climate fund
Amazon founder Jeff Bezos, widely regarded as the richest man in modern history, has pledged to funnel $10bn (£7.7bn) of his personal fortune into a new fund aimed at tackling climate challenges.
UK universities receive £1.26m boost for low-carbon steel roadmap
Scientists at the Universities of Sheffield and Leeds have been awarded £1.26m to accelerate their work developing low-carbon solutions for the steel sector.
RBS's climate goals and Aldi's plastic bag crackdown: 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.
Cabinet reshuffle: Is the promised 'green budget' in doubt?
Earlier this week Chancellor Sajid Javid was said to be reviewing a string of new subsidies to assist with the UK's net-zero transition. With Javid today (13 February) resigning from the position, doubts have been caused as to whether the UK Government can prioritise the green economy in the March Budget.
Carbon trading clarity and citizens in the spotlight: What do businesses want from COP26?
With a successor to the COP26 presidency role yet to be announced, all eyes are on Westminster for news on its plans for organising the crucial summit. But - beyond a stable delivery team - what are UK business's big asks of the conference, both in terms of organisation and execution?
Government unveils fresh funding for business fight against food waste
The UK Government has announced a new £1.15m funding pot for businesses and non-profits aiming to reduce food waste in households and supply chains through behaviour change.
Comic Relief among charities pledging to end fossil fuel investments
Comic Relief, Power to Change, and Guy's and St Thomas' Charity are the latest organisations that have committed to end all fossil fuel investment and adopt a new ethical approach to investing, after joining the Funder Commitment on Climate Change.
30 Under 30: The 2020 Playbook for Sustainability and Energy Professionals
Produced as part of edie's 30 Under 30 initiative, this Playbook offers practical advice on how sustainability and energy professionals can embody 'excellence' in 2020.
Lloyds Banking Group to halve carbon emissions of investments by 2030
Lloyd's Banking Group has pledged to halve the carbon emissions generated by projects it finances by 2030, in support of the UK's 2050 net-zero target.
EU unveils €100bn fund for 'just' low-carbon transition - which excludes nuclear
The EU's regional policy Commissioner Elisa Ferreira revealed on Tuesday (14 January) details of the €100 billion Just Transition Mechanism, a key financial component of the European Green Deal that should make the bloc climate neutral by 2050.
Chancellor vows to prioritise the environment as Budget date set
Chancellor Sajid Javid has confirmed that the UK's next Budget will be held on 11 March, promising fresh spending across the nation's green economy.
Earthshot Prize: Royals aim to spur 'decade of action to repair planet'
The Duke and Duchess of Cambridge have partnered with Sir David Attenborough to launch the 'Earthshot Prize' - a new fund for individuals and organisations working to restore the environment.
Patagonia's Black Friday campaign raises $20m for environmental causes
Outdoor clothing company Patagonia's Black Friday fundraiser for environmental organisations has hit its $10m (£7.6m) target in just 17 days - meaning the firm will now donate $10m of its own to these causes.
8 steps for overcoming the behavioural change challenge
During the SPARK 2.0 event, energy and sustainability professionals discussed the barriers to behaviour change and how businesses could harness the wider awareness of the climate strikes to engage all staff members on the need to manage energy use.
America's Pledge and Europe's Green Deal: What happened on days 8 & 9 of COP25?
COP25 - the UN's annual two-week-long climate summit - has entered its second week in Madrid. Here, edie rounds up all the key news and views from the last few days of the event.
Tesco commits £10m to combat deforestation from soy production in Brazil
Tesco has committed £10m over the next five years to fund a new initiative to transition to producing deforestation-free soy in the Cerrado region in Brazil.
New report reveals surge in employee engagement on energy issues
EXCLUSIVE: The UK's declaration of a climate emergency combined with the recent climate strikes and protests has fuelled a surge in awareness of energy issues among employees across the country, according to the latest Business Energy Barometer conducted by edie.
edie energy managers' survey reveals ESOS 'not worthwhile'
The latest Business Barometer of energy managers for the final quarter of 2019 has revealed the challenges and opportunities ahead of 2020, with many outlining ESOS as a key challenge.
European Investment Bank to end financial support for fossil fuels by 2021
The European Investment Bank (EIB) has unveiled a new energy lending policy that will stop all financing for fossil fuel projects at the end of 2021 and unlock €1trn in sustainable development over the next decade.
Superficial progress: Global banks failing to deliver time-bound climate strategies
A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.
Google launches incubator for SDG-aligned startups
Google has this week launched a new "accelerator" programme for startups, aimed at supporting new firms striving to drive progress against one or more of the UN's Sustainable Development Goals (SDGs).
Webinar: Climate activism: Redefining business engagement to help reach net-zero
Following 12 months of heightened climate awareness driven by the climate strikes that have occupied cities across the globe, businesses are no longer expected to merely operate within the planetary boundaries. Instead, an era is arising where corporates must reflect their role in society through their actions, beliefs and demands.
Meet edie's 30 Under 30 Class of 2019: Rhea Horlock, NHS Property Services
This 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. Next up: Rhea Horlock, CSR manager at NHS Property services.
Streamlined Energy and Carbon Reporting: edie's state of the nation report
Following the introduction of Streamlined Energy and Carbon Reporting (SECR), this new report looks at how energy and sustainability managers are getting to grips with the new compliance issue - and what the future looks like for reporting.
Food giants team up to fund Edinburgh's first on-street recycling infrastructure
On-street recycling infrastructure for food and drinks packaging has been installed in Edinburgh for the first time, as part of a campaign run by charity Hubbub and backed by businesses including McDonald's, Costa Coffee and Nestle.
Report: Local areas to miss net-zero goals without Government support
Government needs to incentivise and support local funding and devolved powers in order to move the UK's local areas to a net-zero carbon economy, a new report has claimed.
Mayors Khan and Street call for Green New Deal to empower regions on climate action
London Mayor Sadiq Khan and Conservative Mayor of the West Midlands, Andy Street, have called on the UK Government to introduce a Green New Deal that devolves power to enable regions to create a fair and just transition to a net-zero economy.
PepsiCo prices $1bn green bond to assist with plastics phase-out
PepsiCo has priced its first ever green bond at $1bn, which will be used to fund initiatives to reduce plastic content in packaging, improve supply chain engagement and management and boost water stewardship.
BlackRock launches its first dedicated circular economy investment fund
The world's largest asset management firm, BlackRock, has launched its first investment fund dedicated to accelerating the global development of a circular economy.
Mission Possible: Achieving a net-zero carbon future for manufacturing
As the movement towards net-zero carbon takes hold across the commercial sector, this fresh insight report looks at how manufacturing companies are driving forward their own goals.
UK banks 'pouring billions into fossil fuels and deforestation', despite green pledges
UK banks have allocated almost £150bn of funding for fossil fuel projects since the start of 2016 and continue to collectively hold 146 investment pots in firms driving significant levels of rainforest deforestation.
Mission Possible: Achieving net-zero carbon in Utilities
Following the UK's world-leading commitment to reach net- zero emissions by 2050, this insight report investigates how the utilities sector can radically reduce carbon whilst enabling and empowering its customers to do the same.
September Spending Round: Javid promises green 'infrastructure revolution'
Sajid Javid has committed to helping the Government fund a green "infrastructure revolution" during his first solo Commons speech since becoming Chancellor of the Exchequer.
City-based Clean Air Zones 'would boost UK economy by £6.5bn'
By implementing designated Clean Air Zones in which polluting vehicles are fined to travel, UK cities could collectively reap economic benefits of £6.5bn.
UK funding to tackle climate crisis 'must double', Government warned
Britain's biggest environmental groups have warned the government that funding to tackle the climate emergency must be more than double next year to avoid an even greater cost from catastrophic ecological breakdown in the future.
Edible drinks bottles backed by Government funding
Oohos, the edible, plastic-free packaging capsules trialled by companies such as Lucozade Ribena Suntory, have received more than £300,000 in Government funding that will help boost daily manufacturing outputs.
Biodegradable bottles and plastic-free microbeads: The 10 innovations backed by Sky Ocean Ventures
Sky's Ocean Ventures arm has selected 10 innovations - all designed to combat marine plastics pollution - to receive a share of a £6m impact investment fund.
edie Explains: Corporate Power Purchase Agreements (CPPAs)
What are Corporate Power Purchase Agreements (CPPAs) in the context of renewable energy? Which organisations are most suited to adopting CPPAs, and what are the business benefits of doing so?
UK's overseas energy aid spending on fossil fuels spirals to £4.6bn
Over the last seven years, the UK has spent 60% of its overseas support for energy investment in developing countries on fossil fuels, with more than £4.6bn spent on climate-wrecking projects.
Coors' plastic-free packaging and solar-powered trains: 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.
Meet edie's Sustainability Team of the Year 2019: Innocent Drinks
With entries now open for edie's Sustainability Leaders Awards 2020, this new feature series showcases the achievements of the 2019 winners and reveals their secrets to success. Up next: our Sustainability Team of 2019 from Innocent Drinks.
What does the Green Finance Strategy mean for business?
Following the launch of the UK Government's Green Finance Strategy, the chief executive of the Green Finance Institute has outlined how climate disclosure, policy signals and a robust business case for sustainability will transform how corporates engage with the finance community.
Eight reasons why green finance is becoming mainstream
Halfway through London Climate Action Week and it seems that sustainable finance is the hot topic. Here, edie explores the key drivers behind why green finance is growing from a niche interest to a business-critical concern.
Emergency response Q&A: How can business accelerate towards net-zero emissions?
The UK has declared a climate emergency and the Government has set a legally binding target for net-zero carbon emissions by 2050. This one-hour webinar takes the form of a live Q&A session with a range of climate policy and business energy experts to explore how businesses should respond to the situation.
Arriva inks telematics deal to slash bus emissions
European passenger transport company Arriva will install TomTom telematics systems in up to 15,000 buses, in a move that could reduce carbon emissions by 72,000 tonnes each year.
Private sector must be forced to invest in 'green revolution', says Labour
Labour will back measures deterring investment in fossil fuels as part of a new drive to stop the financial sector from funding global heating, John McDonnell will reveal this week.
edie Explains: ISO 50001
This updated ISO 50001 guide, produced in association with edie's supporting partner Centrica Business Solutions, provides an in-depth summary of the ISO 50001 Standard which can be used by an organisation to establish and maintain a continuous level of energy performance improvements.
Climate becomes top priority in EU's 2020 budget
The European Commission proposed on Wednesday (5 June) a budget worth €168.3bn for the bloc in 2020, aimed at promoting a more competitive European economy and solidarity and security in the EU. This is the last budget under the 2014-2020 fiscal period and put climate change at the top of the agenda.
UK 'to double' aid support for climate challenges in developing nations
The UK's International Development Secretary Rory Stewart has revealed plans to double the amount of foreign aid spent on climate-related projects to over the next five years.
Business Energy Barometer: April-May 2019
edie's brand-new Business Energy Barometer report maps out the key energy drivers, challenges and opportunities facing UK businesses, based on an in-depth survey of energy managers across the country.
Webinar: Ambition into action: Scaling-up your energy and resources strategy
This one-hour webinar will hear from the leading businesses and experts that are reaching the ‘climate turning point' by scaling-up efforts to drastically reduce energy and resource use through net-zero targets and strategies.
Walmart partners with HSBC to launch green finance programme for suppliers
As part of a partnership with HSBC, US-based retail giant Walmart has developed a green finance initiative that rewards suppliers for setting, meeting or exceeding ambitious sustainability aims.
The World Bank accused of dodging 'no-coal' pledge by funnelling billions of dollars into fossil fuels
A large-scale study on hundreds of active energy projects commissioned by The World Bank Group has concluded that the body is currently financing $21bn of fossil fuel projects, compared to $7bn in the renewables sector.
Starbucks and Hubbub launch joint fund championing coffee cup recycling programmes
Environmental charity Hubbub has today (11 April) launched a new funding initiative aimed at helping local authorities and other organisations launch or scale-up coffee cup recycling schemes, after receiving funding to launch the scheme from Starbucks.
Accelerating the rEVolution: 7 business innovations in e-mobility
This insight report, produced in partnership with UK Power Networks Services, investigates some of the game-changing developments which are driving e- mobility and accelerating the sector forward into the next decade.