Programme motion agreed to. Written evidence (Reporting to the House) motion agreed to. Clause 1 agreed to. Amendment 17 to clause 2 negatived on division (6 to 10). Amendment 18 to clause 2 negatived on division (6 to 10). Amendment 1 to clause 2 agreed to on division (10 to 6). Amendment 2 to clause 2 agreed to on division (10 to 6). Clauses 2 and 3 agreed to as amended. Amendment 19 to clause 4 negatived on division (6 to 10). Clauses 4 to 6 agreed to. Amendment 20 to clause 7 negatived on division (6 to 10). Clause 7 agreed to as amended. Clause 8 agreed to.

Programme motion agreed to. Written evidence (Reporting to the House) motion agreed to. Clause 1 agreed to. Amendment 17 to clause 2 negatived on division (6 to 10). Amendment 18 to clause 2 negatived on division (6 to 10). Amendment 1 to clause 2 agreed to on division (10 to...

Moved by

Baroness Hayman

1: Clause 2, page 1, line 12, at end insert—

“(ii) to adapt to any current or predicted impacts of climate change identified in the most recent report under section 56 of the Climate Change Act 2008, and

(iii) to protect, enhance and restore the United Kingdom’s natural capital, including...

Moved by

Baroness Hayman

1: Clause 2, page 1, line 12, at end insert—

“(ii) to adapt to any current or predicted impacts of climate change identified in the most recent report under section 56 of the Climate Change Act 2008, and

(iii) to protect, enhance and restore the United Kingdom’s natural capital, including...

My Lords, I declare my interest as a director and co-chair of Peers for the Planet.

I thank the Minister for the constructive dialogue that has taken place throughout the passage of the Bill, including the meeting with the bank’s chair and chief executive last week to discuss their new strategic...

My Lords, I declare my interest as a director and co-chair of Peers for the Planet.

I thank the Minister for the constructive dialogue that has taken place throughout the passage of the Bill, including the meeting with the bank’s chair and chief executive last week to discuss their new strategic...

My Lords, I am pleased to follow the noble Baroness, Lady Hayman. I also welcome the Minister’s and the Government’s change of mind, if you like, on including energy efficiency specifically in the Bill. We all know that the International Energy Agency cried out about developed nations not doing anything...

My Lords, I am pleased to follow the noble Baroness, Lady Hayman. I also welcome the Minister’s and the Government’s change of mind, if you like, on including energy efficiency specifically in the Bill. We all know that the International Energy Agency cried out about developed nations not doing anything...

My Lords, I rise to speak in particular to my Amendment 9, and I thank the noble Lord, Lord Teverson, for his support. I very much agree that climate change means that we cannot be building new roads, although big issues of air pollution are of course also addressed in...

My Lords, I rise to speak in particular to my Amendment 9, and I thank the noble Lord, Lord Teverson, for his support. I very much agree that climate change means that we cannot be building new roads, although big issues of air pollution are of course also addressed in...

My Lords, I rise to speak to Amendments 7 and 10 in my name, but before I do I join others in congratulating my noble friend the Minister on tabling the government amendment on energy efficiency. It speaks to an amendment that I and others tabled in Committee, and it...

My Lords, I rise to speak to Amendments 7 and 10 in my name, but before I do I join others in congratulating my noble friend the Minister on tabling the government amendment on energy efficiency. It speaks to an amendment that I and others tabled in Committee, and it...

My Lords, the House this afternoon represents one of the Prime Minister’s favourite metaphors: a nest of singing birds. Everybody who has spoken agrees with each other; I agree with everything that has already been said, but particularly with what my noble friend Lady Hayman has said. I have added...

My Lords, the House this afternoon represents one of the Prime Minister’s favourite metaphors: a nest of singing birds. Everybody who has spoken agrees with each other; I agree with everything that has already been said, but particularly with what my noble friend Lady Hayman has said. I have added...

My Lords, first, I apologise for not attending the earlier stages of the Bill. I was caught out by conflicting diary commitments, but I have been following the debates and the developments around the Bill through all the stages, and my noble colleagues will know of my interest in this...

My Lords, first, I apologise for not attending the earlier stages of the Bill. I was caught out by conflicting diary commitments, but I have been following the debates and the developments around the Bill through all the stages, and my noble colleagues will know of my interest in this...

My Lords, we start Report with a topic that has already been central to our discussion of the UK Infrastructure Bank: its role in investing in nature and the environment. I thank the noble Baroness, Lady Hayman, and all noble Lords who have engaged with the Government on this important...

My Lords, we start Report with a topic that has already been central to our discussion of the UK Infrastructure Bank: its role in investing in nature and the environment. I thank the noble Baroness, Lady Hayman, and all noble Lords who have engaged with the Government on this important...

My Lords, I am extremely grateful to all noble Lords who have spoken in this debate. As in Committee, we saw support from all

around the House. Unfortunately, the Minister has not completely reassured me. I am grateful for her reassurance on gas and understand the reason for including roads,...

My Lords, I am extremely grateful to all noble Lords who have spoken in this debate. As in Committee, we saw support from all

around the House. Unfortunately, the Minister has not completely reassured me. I am grateful for her reassurance on gas and understand the reason for including roads,...

Moved by

Lord Sharkey

2: Clause 2, page 1, line 13, leave out “and”

Member’s explanatory statement

This amendment seeks to probe whether the Bank would need to meet both objectives in the exercise of its activities.

Moved by

Lord Sharkey

2: Clause 2, page 1, line 13, leave out “and”

Member’s explanatory statement

This amendment seeks to probe whether the Bank would need to meet both objectives in the exercise of its activities.

My Lords, Amendment 2 is a probing amendment so I can be very brief. Its purpose is to seek clarity on how the objectives of the bank will work together and to allow the Minister to put that clarification on the record.

We have discussed this informally with the Minister and...

My Lords, Amendment 2 is a probing amendment so I can be very brief. Its purpose is to seek clarity on how the objectives of the bank will work together and to allow the Minister to put that clarification on the record.

We have discussed this informally with the Minister and...

My Lords, Amendment 5 is in my name. I declare my interest as a project director working for Atkins and note that I am co-chair of the Midlands Engine APPG. First, I thank my supporters on this amendment; I thank the right reverend Prelate the Bishop of St Albans for...

My Lords, Amendment 5 is in my name. I declare my interest as a project director working for Atkins and note that I am co-chair of the Midlands Engine APPG. First, I thank my supporters on this amendment; I thank the right reverend Prelate the Bishop of St Albans for...

My Lords, it is a pleasure to follow the noble Lord, Lord Ravensdale. It was particularly useful that he spoke before me because I have taken some of the words that he and his supporters put down in their amendment but made an additional change, taking out the words “economic...

My Lords, it is a pleasure to follow the noble Lord, Lord Ravensdale. It was particularly useful that he spoke before me because I have taken some of the words that he and his supporters put down in their amendment but made an additional change, taking out the words “economic...

My Lords, I am going to be exceedingly brief because so much has been said which I support. I want to make a couple of comments on Amendment 12 in the name of the noble Lord, Lord Tunnicliffe, and others, that I have been pleased to sign. I want to...

My Lords, I am going to be exceedingly brief because so much has been said which I support. I want to make a couple of comments on Amendment 12 in the name of the noble Lord, Lord Tunnicliffe, and others, that I have been pleased to sign. I want to...

My Lords, I am grateful to all noble Lords who have spoken in this important debate. I am particularly grateful to the noble Baroness, Lady Bennett, the noble Lord, Lord Ravensdale, and the right reverend Prelate—who is not present—for their support in tabling Amendments 4 and 5. Those texts are...

My Lords, I am grateful to all noble Lords who have spoken in this important debate. I am particularly grateful to the noble Baroness, Lady Bennett, the noble Lord, Lord Ravensdale, and the right reverend Prelate—who is not present—for their support in tabling Amendments 4 and 5. Those texts are...

My Lords, I will first take Amendment 2 from the noble Lord, Lord Sharkey, which, as he explained, seeks to probe our use of “and” in the activities of the bank to see whether it must meet both objectives or just one. As we discussed previously, the bank’s two objectives—to...

My Lords, I will first take Amendment 2 from the noble Lord, Lord Sharkey, which, as he explained, seeks to probe our use of “and” in the activities of the bank to see whether it must meet both objectives or just one. As we discussed previously, the bank’s two objectives—to...

My Lords, I thank the Minister for clarifying and putting on the record how the bank’s two objectives will work together. I beg leave to withdraw my amendment.

My Lords, I thank the Minister for clarifying and putting on the record how the bank’s two objectives will work together. I beg leave to withdraw my amendment.

Moved by

Lord Holmes of Richmond

6: Clause 2, page 1, line 22, at end insert—

“(4A) Before making any investment decision, the Bank must ensure that the principle of additionality is met.

(4B) The principle of additionality is that—

(a) all activities make a contribution which is beyond what is available or is otherwise...

Moved by

Lord Holmes of Richmond

6: Clause 2, page 1, line 22, at end insert—

“(4A) Before making any investment decision, the Bank must ensure that the principle of additionality is met.

(4B) The principle of additionality is that—

(a) all activities make a contribution which is beyond what is available or is otherwise...

My Lords, it is a pleasure to open this group of amendments and to move my Amendment 6. This amendment boils down to just one word, which predates the investment principles of the bank, the objectives of the bank, the strategy of the bank, the framework document of the bank...

My Lords, it is a pleasure to open this group of amendments and to move my Amendment 6. This amendment boils down to just one word, which predates the investment principles of the bank, the objectives of the bank, the strategy of the bank, the framework document of the bank...