GIB's green duty at risk from legal fix

摘要

Concerns have been raised that privatisation of the Green Investment Bank (GIB) will compromise its unique environmental obligations. The government made the surprise announcement in October that it planned to remove public sector controls on the bank by tabling an amendment to the Enterprise Bill (see p8). Business secretary Sajid Javid first announced plans to sell off the government's stake in the GIB in June. In a written statement to the House of Commons on 15 October, Javid said he wanted to repeal GIB legislation in the Enterprise and Regulatory Reform Act, which gives ministers power to veto changes to the bank's articles of association.