Green Investment Bank Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Viscount Ridley
Main Page: Viscount Ridley (Conservative - Excepted Hereditary)Department Debates - View all Viscount Ridley's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 6 months ago)
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Baroness Neville-Rolfe
The trustees will have all they need to do their job, but the noble Lord will of course recall from our lengthy and useful discussions during the passage of the Bill that their role relates to the articles of association, ensuring that the green purposes of the bank are maintained. That is where they come in: they are not envisaged as a management board for the GIB, whether in its current state or whatever. They have an important role to play.
Viscount Ridley (Con)
My Lords, are green investments judged by their results or their intentions?
Baroness Neville-Rolfe
The GIB is a commercial operation. It has its purposes, and it judges where it should make investments. What we have in the GIB—a world first—is a dedicated green investment bank, which we should celebrate and which a number of bidders have showed an interest in acquiring so it can move forwards and expand.