Green Investment Bank

Part of the debate – in the House of Commons at 12:40 pm on 11th January 2017.

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Photo of Nick Hurd Nick Hurd The Minister of State, Department for Business, Energy and Industrial Strategy 12:40 pm, 11th January 2017

I want to make two points on that. First, the special share is being set up to protect the integrity of the green purpose, which is set out in the articles of association. It is there for all to read. Any proposed changes would need to be approved by the trustees, who have been selected independently. That is the mechanism involved. Secondly, I made the point earlier that I do not think it is sensible for investment institutions to hold on to assets for ever. Part of their role is to manage a portfolio, and if they get attractive offers to divest assets we expect them to look at those offers seriously. We are interested in the plans for future investment, and in what this organisation could become under private ownership. That is what we are evaluating.