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BIS plans to protect bank’s green values

The UK government has said that it intends to approve the creation of a special share in the Green Investment Bank with the right to approve any change to its green purposes, as part of the process for the sale of the bank.

The government was responding to questions raised by the House of Commons Environment Audit Committee in its report on the future of the bank: the committee had said that the government should aim to strengthen the bank’s green credentials in the long-run.

In the response, published on 2 February, the Department for Business, Innovation and Skills stressed that legislation that gave specific government control over the bank would mean that the bank could not be reclassified to the private sector.

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