10:15 Kevin Brennan (Wakefield) (Lab)

I would also be interested to know whether this arrangement has any implications—this is reasonably topical at the moment, given our recent discussions—relating to the requirements of state aid rules and Brussels? Do we need to be aware of any particular interplay here? What would the role of UKGI be in relation to the Department of Energy and Climate Change? That Department is responsible for environmental improvements, so how will it relate to UK Government Investments Limited? Do the Government have any intentions about—or have they given any thought to or had any discussions on—the possible privatisation of the company at some future date? Is that part of the Government’s thinking in setting up the body under the Act? I look forward to the Minister’s response.

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10:30 Caroline Flint (Don Valley) (Lab)

I thank my hon. Friend for her intervention. Having spent the past five years as a shadow Energy and Climate Change Minister, I find it most encouraging that, when we look at the investment going into these projects we can see that, despite the recession and the economic problems we have had for a number of years, green energy is one of the few sectors that has bucked the trend. More pertinently, when we look at the spread of investment, the research that goes into some of these projects and the jobs coming out of them, it is one of the few sectors where we can really talk about a one nation policy. Opportunities in the sector are far more open to all regions and countries of the UK than some other sectors such as finance, which is why it is such an interesting area to think about today and for the future. How do we protect those jobs for the future?

The Labour party has been at the fore, as the last Labour Government passed the Climate Change Act 2008 with all-party support. I think that only five Members of Parliament voted against it. I am not sure, Sir David, how you voted on that one. [ Laughter. ] Actually, I cannot quite remember whether you voted against it or not. Anyway, although there have been a number of wobbles in the past five years on a number of different aspects of green technology such as onshore wind farms and what have you, this country is lucky, compared to other countries, that there is political consensus on this important issue.

We hope that the projects and investment that have already been undertaken by the Green Investment Bank will continue. Some of them are key to the development of green technologies in Scotland. If you will indulge me, Sir David, I will give a list of a few of these projects. There is a £2 million investment in a sewage heat recovery scheme with an installation programme in locations across Scotland, which began in Borders College back in 2015; a £28.25 million equity investment in the construction of the Levenseat renewable energy waste project; a £6.3 million loan to Glasgow City Council to enable the first wave of the replacement of 70,000 street lights with lower energy and low-cost alternatives; biomass boilers across a number of distilleries in Scotland; and a £26 million investment in the new biomass combined heat and power plant near Craigellachie. These are significant and important projects.

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