Green Investment Bank Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Stoneham of Droxford
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Green Investment Bank
Lord Stoneham of Droxford Excerpts(7 years, 10 months ago)
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Lord Prior of Brampton
My Lords, no business would say that it will be intact for ever. Interestingly, the Green Investment Bank manages an investment fund of £800 million. It is the biggest investment fund in the renewable sector in the UK. It has a whole series of investments in that fund, and of course some will be sold in future.
Lord Stoneham of Droxford (LD)
My Lords, the suggestion in the Sunday papers was that the integrity of the bank was under threat. It is not sufficient just to support the objectives of the bank; this is about its integrity. Can we have an assurance from the Government that they are seeking to protect that integrity as well as the objectives?
Lord Prior of Brampton
I can give an absolute assurance that, in assessing which company or organisation might acquire the Green Investment Bank, the integrity and commitment of that company to the green purposes of the bank is crucial.