New Clause 22 — Interpretation of the green purposes: duty to assess impact on the Climate Change Act 2008

Part of Relationship, Drug and Alcohol Education (Curriculum) – in the House of Commons at 3:45 pm on 17th October 2012.

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Photo of Matthew Hancock Matthew Hancock The Parliamentary Under-Secretary of State for Business, Innovation and Skills, The Parliamentary Under-Secretary of State for Skills 3:45 pm, 17th October 2012

Clearly, one reason for establishing a green investment bank is to ensure that it delivers against the green purposes. Of course cost is vital. That is why we are setting up the bank so that it will act on a commercial basis. The crucial point is that it must act in accordance with one or more of the green purposes, otherwise there would be no point in it being a green investment bank.