Scottish Liberal Democrats are campaigning for the UK’s Green Investment Bank to be based in Scotland, with its headquarters in Edinburgh.

This innovative new bank will start its work with £3 billion of public money, and is estimated to unlock a further £15 billion in private investment, which will fund green infrastructure projects, such as offshore wind farms. This would mean hundreds of millions of pounds being spent in Scotland on projects to generate green energy and create at least 40,000 jobs in the renewable industry.

The campaign to bring the bank to Edinburgh, which has been led by Edinburgh West MP Mike Crockart, is based around the capital’s unique qualities for such an institution. Scotland's finance sector, renewable energy firms and universities all agree that Edinburgh has the required clout in the financial, energy and research sectors to make the bank a success. UK Ministers have been presented with Edinburgh’s formal business case by Mike Crockart MP, as well as a cross-party delegation of MPs, business leaders, academics and experts within the financial services sector.

Mike Crockart MP said: “There is no city in the UK better equipped to be home to the Green Investment Bank. Our established financial sector, centres of pioneering academic research, and Scotland’s renewable potential make Edinburgh the perfect choice.

“We have built a strong coalition from the world of politics, business and academia, and it is my hope that Edinburgh will be named as the home for this prestigious new institution.”

Commenting, Orkney and Shetland MP, Alistair Carmichael said: “In the Northern Isles we have a better understanding than most of the importance of providing green industries with the support they need to grow. Renewable energy has come to play a vital role in our local economy. The new Green Investment Bank will boost investment in the sector, helping to create the sustainable jobs we need.

“I know that the Scottish Secretary has been pushing the case for Edinburgh strongly within the Cabinet and this was one of the issues he discussed with Willie Rennie MSP, the new leader of the Scottish Liberal Democrats, when he visited London earlier this week. ”

Secretary of State for Scotland, Michael Moore MP added: “It makes sense for the Green Investment Bank to be based in Scotland because of the unique strengths we bring to the table. I will continue to argue the case for Scotland within the UK Government over the coming months.”

Read more about the business case for Edinburgh: http://www.edinburghchamber.co.uk/wmslib/news/files/Business_Case_Final_28Mar.pdf