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  Enterprise and Regulatory Reform Bill - New Clause 22 - UK Green Investment Bank - Duty to Support Climate Change Act Targets
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to require the the UK Green Investment Bank to explicitly act in support of the target of reducing UK carbon emissions to 20% of 1990 levels by 2050. 
  @ MP voted no against requiring the UK Green Investment Bank to explicitly act in support of the target of reducing UK carbon emissions to 20% of 1990 levels by 2050. 
  
  The majority of MPs voted against requiring the UK Green Investment Bank to explicitly act in support of the target of reducing UK carbon emissions to 20% of 1990 levels by 2050 and in support of greenhouse gas reduction targets set under the [http://www.legislation.gov.uk/ukpga/2008/27/contents Climate Change Act 2008].
  
  MPs were considering the Enterprise and Regulatory Reform Bill[1]. The new clause rejected in this vote was:
  
  :(1) In interpreting [http://www.publications.parliament.uk/pa/bills/cbill/2012-2013/0061/cbill_2012-20130061_en_2.htm#pt1-l1g1 the purposes in section 1(1)(a) to (e)], it is the duty of the UK Green Investment Bank to assess whether the implementation of its investment strategy, or similar document outlining or amending the proposed investment portfolio of the UK Green Investment Bank will, as a whole, increase the likelihood of achieving carbon budgets and greenhouse reduction targets as set out under the [http://www.legislation.gov.uk/ukpga/2008/27/contents Climate Change Act 2008].
  
  :(2) In subsection (1), whether or not an investment strategy will increase the likelihood of achieving carbon budgets and greenhouse gas reduction targets shall be assessed compared to a scenario where identified investments or investment categories did not proceed.
  
  :(3) In undertaking the assessment required under subsection (1), it is the duty of the UK Green Investment Bank to have regard to the advice and reports of the Committee on Climate Change required under [http://www.legislation.gov.uk/ukpga/2008/27/part/2/crossheading/functions-of-the-committee sections 34, 36 and 38 of the Climate Change Act 2008].
  
  :(4) The Board must make a decision to adopt or amend its investment strategy or similar document described in subsection (1), unless it is satisfied, as a result of the assessment in subsection (1), that the proposed investment portfolio will, as a whole, increase the likelihood of achieving carbon budgets and greenhouse gas reduction targets under the Climate Change Act 2008.
  
  
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  * [1] [http://services.parliament.uk/bills/2012-13/enterpriseandregulatoryreform.html Parliament's webpage on the Enterprise and Regulatory Reform Bill]
  * [2] [http://www.publications.parliament.uk/pa/bills/cbill/2012-2013/0061/cbill_2012-20130061_en_1.htm Version of the Enterprise and Regulatory Reform Bill as at the time of the vote]
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  