Question

To ask the Secretary of State for Business, Innovation and Skills, whether the Government has undertaken an environmental impact assessment of its policy to privatise the Green Investment Bank.

As set out in the answer to question 22471 on 18 January, the Government is moving UK Green Investment Bank plc (GIB) into private ownership so it can continue operating in the same way it does now only funded with private capital rather than relying on taxpayers’ support. The detailed background and supporting case for this move was set out in the policy statement we published on 18 November. Decisions on the proposed sale are being taken in accordance with best practice to ensure all available options are properly examined in a detailed business case and that a robust valuation process is followed. The process does not involve preparation of an environmental impact assessment as we do not envisage any direct environmental or regulatory impacts of a majority sale of GIB, or changes to pre-existing policy goals for GIB.