The UK Government has committed to establishing a 'Green Investment Bank'. The Bank is necessary to unlock the scale of investment needed in renewable energy and other technologies to 'green' and decarbonise the UK’s economy. It can also be an engine for job creation and economic strength, powering a change of course for the UK towards a positive green future.
However, the Government is yet to commit on key issues that are critical to the Bank's success - including whether it will establish the Bank by legislation. ClientEarth considers legislation to be important for several reasons, including to safeguard the environmental mandate of the Bank.
ClientEarth is working with Transform UK to design and draft a model bill for legislation setting up the Green Investment Bank, to establish its shape so that it is fit for purpose.
A summary of the bill that ClientEarth is developing can be found here
This summary was originally annexed to Transform UK's briefing on 'the case for legislation'.
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