Five trustees have been nominated to run the UK Green Investment Bank’s (GIB’s) Green Purposes Company (GPC), which is tasked with protecting the bank’s green mandate.
The GPC is a special shareholder unit with voting powers to ensure that once the GIB is sold to the private sector it remains legally obliged to invest in accordance with the green purposes currently set out in the bank’s articles of association.
The nominated trustees are: James Curran, currently a non-executive member of the Scottish government’s Climate Change Delivery Board; Trevor Hutchings, director of advocacy at WWF; Tushita Ranchan, a former managing director of a renewable energy company and board member of the London Array offshore wind farm; Lord Robin Teverson, chair of the House of Lords’ EU select committee on energy and environment; and Peter Young, founding director and former chair of Aldersgate Group.
The nominated trustees will be formally appointed to their role when ownership of GIB is transferred from the UK government to a new owner.
Image: GIB has invested in offshore wind, including Sheringham Shoal (Statoil)
