The UK parliamentary Environmental Audit Committee announced plans yesterday to launch an inquiry into the Coalition Government’s proposal to establish a Green Investment Bank.
The investigation will look at the objectives and roles of the Green Investment Bank, the areas in which it should operate, what its investment priorities should be and what funding and governance structure will be required.
Chaired by Joan Walley Labour MP for Stoke-on-Trent North, the Committee will seek to establish how the Bank’s funding and governance can maximise its effectiveness.
The Government intends the Green Investment Bank to provide some of the investment needed to create a new low-carbon infrastructure necessary to meet the UK’s emissions reduction and renewables targets.
More detail on the proposals will be announced after the spending review next month, but in the meantime the Committee is inviting comments on the Green Investment Bank from organisations and individuals by 15 October.