THE UK's Green Investment Bank, which will have its headquarters in Edinburgh, has been given the go-ahead to begin operations by the European Commission.
The bank now hopes to be up and running within the next few weeks.
Chairman Lord Kelvin said: "This is excellent news and a very important milestone as we transition to a low-carbon economy and work to boost investment across the industry. We have already made significant progress in building our teams and necessary infrastructure for the bank and we expect to be fully operational in the next few weeks.
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