Moved by
Lord Stevenson of Balmacara
15: Clause 6, page 4, line 9, at end insert—
“(5) The Secretary of State must make provision for an independent expert review of the performance of the UK Green Investment Bank.
(6) A review under subsection (5) must be prepared every five years following the commencement of this Act.
(7) An interim review shall be prepared no less frequently than every two and a half years.
(8) A review under subsection (5) must, in particular, include or contain information relating to—
(a) an assessment of the UK Green Investment Bank’s environmental performance in fulfilling the green purposes as set out in section 1,
(b) an analysis of the main trends and factors likely to affect the future development, performance and investments of the UK Green Investment Bank,
(c) macro-economic analysis, including assessments of demand in the UK economy and international factors likely to affect green investment and skills within the relevant industries,
(d) assessment of the competitiveness of the UK Green Investment Bank in securing competitive advantage for the UK in green and low carbon economies relative to other countries, and
(e) recommendations to improve the UK Green Investment Bank’s impact in fulfilling its green purposes in section 1.
(9) A review conducted under subsection (5) must consult—
(a) The Secretary of State for Energy and Climate Change,
(b) The Secretary of State for Environment, Food and Rural Affairs,
(c) The Committee on Climate Change,
(d) Ministers from the devolved administrations,
(e) investors and interested parties, and
(f) members of the public.
(10) The Secretary of State, in the capacity of shareholder, must provide such information as they consider reasonable to enable the person or body undertaking the review to fulfil the requirements of this subsection.
(11) A review under subsection (5) must be published and laid before both Houses of Parliament.”