As the UK Green Investment Bank (UK GIB) is to be an enduring institution, it is important to ensure that it continues to have a green economy focus over the long term regardless of any future potential changes in its ownership.
That is why the Government is introducing legislation.
As part of the Enterprise and Regulatory Reform Bill, the legislation seeks to ensure that the Bank will always have a green purpose. It also facilitates the Bank’s independence, and makes funding provision for the company.
More detail on the Enterprise and Regulatory Reform Bill – UK Green Investment Bank.
The Government has considered in detail the range of costs and benefits of establishing UKGIB, and is confident that the Bank will facilitate economic growth in the longer term. The full details of the costs and benefits are set out in the impact assessments.