Green Investment Bank: Sales

(asked on 8th February 2017) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the Government plans to put in place any measures to prevent asset stripping or other abuses by companies which purchase Green Investment Bank assets.


Answered by
Nick Hurd Portrait
Nick Hurd
This question was answered on 20th February 2017

In its “Green Investment Bank: sale of shares” report laid before Parliament on 3 March 2016, the Government set out its objectives for the sale and the process by which the sale would be conducted. Bids have been evaluated at each stage of the process against the Government’s sale objectives.

The Green Investment Bank (GIB) is being sold as a going concern and potential investors will be buying into the company’s green business plan and forward pipeline of projects. The Government has asked potential investors to confirm their commitment to GIB’s green values and investment principles and how they propose to protect them, as part of their bids for the company.

In addition to this, to protect GIB’s green purposes in future, GIB has created a special share, held by an independent company with the right to approve or reject any changes to GIB’s green purposes should such a change ever be proposed.

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