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Green asset managers secure E3bn more

Monday, December 16 12:55:38

Ireland's 'green' asset managers secured more than E3 billion in new funds during 2013, delegates at the Sustainability Gathering heard today.

'Green' asset management refers to physical and financial assets in the green economy and includes investment in the water and renewable energy sectors. As a result, more than 40 jobs were created by Power Capital, BNRG, Mainstream and Gaelectric alone during the year. And, it is anticipated that this E3 billion investment will create some 120 new construction jobs over the next two years. Irish companies won the investment for funds and renewable projects they are spearheading both in Ireland and across the globe. "This demonstrates Irish innovation and leadership in the moves to a low carbon economy," said Minister for Jobs, Enterprise and Innovation Richard Bruton, who attended the Gathering, which was attended by more than 300 professionals from the green economy in areas from policy, finance and enterprise.

Speaking at Dublin Castle, Minister Bruton today said: "The Government has ear-marked the Green Economy as a core area for Irish economic recovery and growth as outlined in my own department's policy document Delivering our Green Potential." "In fact we are launching our progress update on that very policy document here today at the Sustainability Gathering." Stephen Nolan, Chairperson, Sustainability Gathering, said the Government had created the conditions, which allowed these Irish companies to flourish. "It is no surprise that Forbes in recent days ranked Ireland best country for business." "Green International Financial Services Centre (GIFSC) has a target of increasing environmental assets under management or serviced from Ireland from today's $20 billion to $200 billion by 2017," explained Nolan. GIFSC is Ireland's public/private initiative to position and promote Ireland as a world- leading centre for environmental finance." Mr Nolan went on to explain: "This target is achievable due to the combination of two additional key factors - a world class renewables and cleantech enterprise sector and the existence of a world class international financial services centre. This combined expertise is what sets Ireland apart from other competitors."