Kenya was recently lauded for leading Africa in trying to find solutions to threats posed by climate change through policy development, devolution and establishment of the Climate Change Council, among other initiatives.Read More
The Belgian development agency Enabel has organised an international climate conference in Brussels to run from 9 to 10 October 2018. The conference which has attracted more than 170 participants from Belgium and from abroad will debate on plans to integrate climate change into the development strategies of secondary cities, including cities in the partner countries of the Belgian development cooperation.Read More
The Government of Rwanda has signed a ten-year lease agreement with a United Arab Emirates based investor ‘EnviroServe’ to manage and operate an e-waste recycling plant.Read More
UK – British Climate Change and Industry Minister, Claire Perry, recently confirmed that the sale of the Green Investment Bank (GIB) to Macquarie Group Limited has now been completed.
The £2.3 billion deal ensures that all the taxpayer funding invested in GIB since its creation, including set-up costs, has been returned with a gain of approximately £186 million.
As well as fully meeting the government’s objectives, the deal secures the future of the GIB with an ambitious new owner committed to growing the business. The Edinburgh office will be home to a new revenue-generating business as well as providing services to the green energy portfolios of both Macquarie and GIB in the UK.
The British government decided that moving it into the private sector now would free it from the constraints of public sector ownership allowing it to increase investment in green infrastructure in an on-going transition to a green economy. GIB’s independent Board supported the government’s decision to sell the business to Macquarie.
In order to build on the company’s success within the private sector, Macquarie and GIB announced that the company will now be known as the Green Investment Group (GIG) so that it will be able to make overseas investments.
Climate Change and Industry Minister Claire Perry said, “We led the world in setting up the Green Investment Bank and it is now being copied by others. Now that it’s in the private sector, it will be able to operate on an international level to tackle the global challenge of climate change. It is also perfectly placed to help us finance green initiatives for our Clean Growth Plan and realise the commitments set out in the Paris Agreement.”
The green ‘special share’ held by the Green Purposes Company Limited also comes into force now. Five independent trustees have the power to approve or reject any proposed changes to GIG’s green purposes in the future.
The government will continue to hold an interest in a portfolio of a small number of GIB’s existing green infrastructure investments. These assets will continue to be managed by GIB until they can be sold on in a way which returns best value for taxpayers’ money.
In a wide-ranging interview with Inter Press Service (IPS), the Director-General of the Global Green Growth Institute (GGGI) Dr Frank Rijsberman reiterated that Jordan is currently showing a solid commitment towards shifting to a green economy, and has achieved important milestones in implementing renewable energy solutions.Read More
Ethiopia recently announced that its flagship Chinese-built Hawassa Industrial Park, designed and constructed in an environment-friendly manner, will be model for other industrial park projects throughout the country.Read More
With support from the government of the United Kingdom, GreenCape and the World Bank’s Climate Technology Program (CTP) have launched a cross-border business matchmaking facility that links global companies to local green businesses in South Africa.Read More
The Kenyan government has finally started to enforce a 2012 law requiring new residential and commercial property developments to install solar water heating facilities.Read More
A proud supporter of the global Earth Day movement, GBCSA has made impressive headway recruiting the local property sector – public and private, commercial and residential – to the environmental movement.Read More