Green Investment Bank

Department for Business, Innovation and Skills written question – answered on 3rd July 2015.

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Photo of Iain Wright Iain Wright Shadow Minister (Business, Innovation and Skills), Chair, Business, Innovation and Skills Committee

To ask the Secretary of State for Business, Innovation and Skills, with reference to his statement on 25 June 2015, HCWS54 on the Green Investment Bank, what control the Government will retain over the (i) appointment of the Chair of the Bank and (ii) strategic direction of the bank's activities following its move into private ownership.

Photo of Anna Soubry Anna Soubry The Minister of State, Department for Business, Innovation and Skills

Our aim is that bringing private ownership in to UK Green Investment Bank plc (GIB) should free the company from Government control with decisions about operational and strategic matters being a matter for the company, its board and its shareholders. As we move towards introducing private investors, we will be exploring how to ensure GIB continues to invest in accordance with its green principles.

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