Peter Young, Chairman of the Aldersgate Group (AG), told Bloomberg that the GIB should be able to issue bonds to help finance clean-energy projects such as renewable technologies from April 2013. He said that "the earlier bonds are issued, the faster we should get the Green Investment Bank leveraging off institutional investors and deploying capital at the scale the low carbon transition needs to meet our carbon targets and economic imperatives." For the full Bloomberg article, click here.
Commenting on the announcement on location a few days later, Peter said, "We welcome the decision and in particular the opportunity for the GIB to have a dual presence in both London and Edinburgh. This will ensure proximity to the London financial centre which will be vital, but also create a talent pool based nearer some of the key markets for low carbon project delivery, such as Scottish marine renewables. We look forward to swift recruitment to build the excellent expertise necessary to build market confidence in the GIB."