Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps the UK Infrastructure Bank will take to ensure public funds invested in third party funds will directly support levelling up and help reduce emissions.

The UK Infrastructure Bank operates within a strategic framework set by government but has operational independence in its day-to-day activity, including investment decisions. UKIB has dual objectives of investing in projects to help mitigate and adapt to climate change, and to support regional economic growth across the UK. The Bank is required to have regard to both of these objectives in setting its investment policies and assessing all transactions, including any that involve investment in third party funds. I have asked the Bank to write to you directly on the approach that it takes in making decisions on investments in third party funds.