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The Bank told us it is currently developing several Key Performance Indicators (KPIs) to measure...
Conclusion
The Bank told us it is currently developing several Key Performance Indicators (KPIs) to measure its success. For its two policy objectives, these include carbon emissions abated, jobs created and productivity. The Bank told us it expects to abate 2 million tonnes of CO2 and create or support 3,900 jobs from the 10 deals it has made so far. The Bank still does not have targets or other success criteria for these KPIs. The Bank has yet to establish ways of measuring its contribution to productivity.35 The Bank added that it was developing other potential impact metrics and that these metrics will be reported, on an aggregate basis, in the Bank’s annual report. The Bank has started to develop ways of measuring wider aspects of additionality, which will include providing a narrative for each transaction it does.36
Government Response
A response document is linked to this report, dated 12 April 2023. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
Thirty-Fourth Report - The Creation of the UK Infrastructure Bank
25 Jan 2023
HC 45
Addressee Bodies
HM Treasury
Timeline
Recommendation age
3.6 yrs
Report published
25 Jan 2023