Edinburgh launches green bank campaign

Published on Tuesday 29 March 2011 22:40

THE bid to make Edinburgh a global centre of renewable technology and investment was launched yesterday when Scottish Secretary Michael Moore was presented with the case to bring the new Green Investment Bank to the city.

Led by Edinburgh Chamber of Commerce president Robert Carr, the bid team said the capital was "uniquely qualified" because it was a major centre for technology, finance and academia. He described Edinburgh as the "sweet spot" and said it was the only city outside London with all the factors needed for the bank to succeed.

Carr the bid was not a "case of special bargaining", but was being put forward because Edinburgh "is the right place to come to in the UK". He also warned against a London-centric view, suggesting the bank would be lost in the City, but would have "a distinctive identity" in Edinburgh.

The bid was launched at a business breakfast in the House of Commons arranged by Edinburgh MPs Mike Crockhart, of the Liberal Democrats, and Labour's Mark Lazarowicz. It received cross-party backing, including Alistair Darling, also an Edinburgh MP.

The former chancellor reminded the audience that Edinburgh is the fourth-largest financial centre in Europe and "therefore is well-qualified to become the home of the Green Investment Bank."

A decision on the location is expected later this year.