About the GPC
The Green Purposes Company (GPC) holds a special share to safeguard the green mission of the Green Investment Bank (GIB). The GPC took up its role once the GIB was transferred from UK government ownership to the private sector in August 2017.
The UK’s GIB was a world first when launched in November 2012. It was established by an Act of Parliament with a mission to accelerate the transition to a green economy. To do this the GIB only makes investments which contribute to the GIB’s Green Objective, as defined with reference to five Green Purposes. These are set out in the legislation that created the GIB and in the GIB’s articles of association.
The GIB operates through a series of wholly-owned subsidiaries. Due to international restrictions on the use of the word ‘bank’ in company names, in August 2017 the GIB created a new subsidiary, Green Investment Group Limited (GIG). Since then GIG has been the principal name used by the GIB, both in the UK and overseas. The GPC’s role with the GIB applies to all its wholly-owned subsidiaries, including the GIG.