Brighton and Hove is in the running to become the home of the Green Investment Bank.
The government intends to commit £3 billion to the proposed bank to speed up private sector investment as Britain tries to become a low carbon economy.
Brighton and Hove City Council was one of 32 local authorities to express an interest in hosting the headquarters of the proposed bank. It is expected to have 50 to 100 staff.
Business Secretary Vince Cable said that London, Birmingham, Manchester, Liverpool and Edinburgh were among the other bidders.
Council leader Bill Randall said: “We have the talent pool, commercial infrastructure, credible international brand and sheer ambition to host the Green Investment Bank in our city.
“Brighton and Hove is concerned about climate change and, with two universities, the city is a centre of economic innovation.
“Financial services are at the heart of the city’s economy and therefore there is an existing workforce with the necessary skills to take up employment opportunities if a Green Investment Bank located in the city.
“It is early days and we are up against strong competition but we trust our bid will be given serious consideration.”
Caroline Lucas, the Green MP for Brighton Pavilion, has pushed the case for Brighton and Hove to host the bank’s base.
And Simon Kirby, the Conservative MP for Brighton Kemptown, has raised the subject at Business Questions in the chamber of the House of Commons.
He also asked Mr Cable, a Liberal Democrat member of the coalition government, about locating the bank in Brighton during a select committee hearing a year ago.
Mr Kirby said at the time: “I told him that as one of the two Brighton MPs I was very interested in green issues and particularly the Green Investment Bank.
“I left the Secretary of State in no doubt that Brighton would welcome the bank with open arms and it would fit with the eagerness of the city to embrace environmental initiatives to help the planet and boost business.”
Mr Cable is due to announce a final decision on the location of the bank next month.