A raft of ten firms including Clifford Chance, Norton Rose Fulbright and Burges Salmon, have been appointed to the UK Green Investment Bank’s (GIB’s) first-ever formal legal panel.
Linklaters, Slaughter and May, Allen & Overy, King & Wood Mallesons SJ Berwin, Pinsent Masons and Burges Salmon also won spots, alongside Scottish firms Maclay Murray Spens and Shepherd and Wedderburn.
The latter pair has been lined up to advise on Scottish law matters for the bank, which is headquartered in Edinburgh.
A spokesperson from the bank added that the review is yet to be finalised.
The arrangement marks the bank’s first formal panel. It formerly instructed a number of firms including A&O, Slaughter and May, and Pinsent Masons on a more casual basis.
Former Pinsent Masons partner Euan McVicar, who was appointed as GIB’s new general counsel in May 2013, oversaw the procurement process.
The organisation was launched in November 2012, with £3.8bn of funding from the UK government. Described as a ’for profit’ bank, the GIB aims to help the UK transition to a greener economy and operate independently of the government.
Its in-house team currently consists of McVicar, and two further lawyers – Chris Saunders who joined when the bank was established, and Leo Thorn Gent who joined the team in late 2013. Thorn Gent formerly spent eight months on secondment to the bank’s predecessor UK Green Investments in 2012.
This week it emerged that GIB has formed an alliance with Societe Generale Equipment Finance to provide £50m of finance for energy efficiency projects. Both institutions will shell out £25m, in order to allow organisations to embark on energy efficiency measures without having to fund the finance upfront.