UK investors welcome new infrastructure bank

The chancellor’s plan to create a new British infrastructure bank has been warmly welcomed—but how will this influence the UK's energy transition journey?

The UK’s renewable energy sector is set to receive a huge boost as plans are underway to create a new green-focused infrastructure bank. In his spring statement on 3 March, Chancellor Rishi Sunak unveiled plans for developing a Leeds-based bank to target sectors such as renewable energy and carbon capture. It will start with initial capitalisation of £12bn ($16.8bn), with at least a further £40bn of investment expected, and the bank has already attracted interest from institutional investors. “It is a good idea, and the government is going to need a lot of financing for its ten-point plan” Bryn Jones, Rathbones Bryn Jones, head of fixed income at asset manager Rathbones, regards this