Business secretary Vince Cable yesterday announced nine appointments to the Advisory Group which will advise ministers on setting up the Green Investment Bank.
The group, chaired by Skanska non-executive director Adrian Montague, will advise ministers on the establishment of the bank and its strategic direction. The first meeting of the group will be on Tuesday 6 September. The group will only have a consultative role.
Cable said the group was an “excellent mix” of credentials and experience relating to energy, environmentally important industries, “hands-on” financing experience, “deep understanding” of infrastructure projects, starting up new credit institutions and managing development banks.
Advisory Group profile
The 10 members of the Advisory Group are:
Chairman Adrian Montague was appointed on 24 May. Montague is non-executive chairman of 3i, Anglian Water Group, Hurricane Exploration and CellMark Investments, a supplier of biomass for renewable regeneration technologies. He is also Skanska non-executive director.
European Investment Bank (EIB) UK vice president Simon Brooks — responsible for EIB’s Climate Action and other environmental lending policies.
Citigroup former managing director and global head of infrastructure John Burnham — has advised on project finance, privatisation, restructuring, raising capital, private equity funds and takeovers in power and water utilities.
Phoenix Equity Partners chairman David Gregson — an Olympic Park Legacy Company director.
Quartermain Advisers managing director Melville Haggard — sits on the investment committee of the London Waste and Recycling Board and advised on the Department for Environment, Food and Rural Affairs’ Waste Infrastructure Delivery Programme.
Paradigm Change Capital Partners managing partner Dima Rifai — established her company in response to a clear need for attracting large-scale capital from institutional investors to the low carbon sector.
UK Sustainable Investment and Finance Association chief executive Penny Shepherd — was the first London Sustainability Exchange chief executive and has been a member of the London mayor’s Sustainable Development Commission. She has an MBE for “services to sustainable economic development and socially responsible investment”.
Shell UK former chairman James Smith — sits on the board of the Carbon Trust and on advisory boards on energy and climate change at Imperial College London, London School of Economics, London Southbank and University College London.
London School of Economics professor of economics and government Lord Stern of Brentford — is also Grantham Research Institute on Climate Change and the Environment chairman. Held previous posts at the European Bank for Reconstruction and Development and the World Bank, and produced the landmark Stern Review on the economics of climate change.
Yell Group chairman Bob Wigley — former Merrill Lynch Europe, Middle East and Africa chairman, and chaired the Green Investment Bank Commission which reported in July 2010.