Gallery: Britain’s Green Investment Bank Loans $1 Billion in First Mont...

 

Photo via Shutterstock

In order to help reduce carbon emissions by 2020, the UK government recently opened the Green Investment Bank (GIB) in Edinburgh, making it the first bank in the world focused entirely on lending to clean energy developments. Capitalized with over 3 billion pounds, the GIB financed eleven projects over its first five months, the majority of which had to do with generating energy from waste. The bank reported that it was able to utilize 1.7 billion pounds of third-party lending, helping to spark a new, sustainable private sector.

Read the rest of this entry »

LEAVE A COMMENT

or your inhabitat account below



get the free Inhabitat newsletter

Submit this form
popular today
all time
most commented
more popular stories >
more popular stories >
more popular stories >
Federated Media Publishing - Home