Edinburgh is ‘ideally placed’ to be the location of UK Green Investment Bank

Mark Lazarowicz said the case for the city was “overwhelming”, ahead of a decision expected to be taken next year.

The Labour MP for Edinburgh North and Leith, who was the Prime Minister’s special representative on global carbon markets from 2008-10, said: “The case for Edinburgh to be the headquarters of the Green Investment Bank is overwhelming. I and other Edinburgh MPs have been working on a cross-party basis for some time now to press the city’s case.

“We have the skilled and qualified personnel, we have a strong financial sector, we have a strong scientific and academic community on which the bank can draw, and we are close to many of the projects which the bank is likely to fund.

”I hope the UK government will give Edinburgh the green light for this important initiative early in 2012.

“I am also glad to hear that the Scottish Government is backing the bid – and I hope it will realise that a prolonged period of political uncertainty about the long-term constitutional arrangement between Scotland and England does not help our chances of winning bids such as these.”

Edinburgh’s bid to be the location of a green investment bank has received plenty of backing, including from Glasgow City Council and a leader of Scotland’s universities.

Edinburgh City Council, Edinburgh Chamber of Commerce and other interested parties have already made their case to Business Secretary Vince Cable who is considering where to site the bank.

Last month, they were joined by Gordon Matheson, leader of Glasgow council, and Professor Jim McDonald, who is the principal of Strathclyde University and chairman of the Scottish universities’ energy technology partnership, who said the capital city is ideally placed.