The Bank’s objectives are:

• (a) to help tackle climate change, including by supporting efforts to meet the target for 2050 set out in section 1 of the Climate Change Act 2008;
• (b) to support regional and local economic growth.

The Bank’s activities are:

• (a) providing financial assistance to projects wholly or mainly relating to infrastructure,
• (b) providing loans to public authorities for such projects,
• (c) acting as a centre of expertise and providing advisory and other support services in relation to such projects,
• (d) any other activities that are incidental or conducive to, or otherwise connected with, anything in paragraphs (a) to (c).

Infrastructure includes nature-based solutions, technologies and facilities relating to:

• (a) water, electricity, gas, telecommunications, sewerage or other services (including the provision of heat and, in relation to electricity, gas and the provision of heat, energy efficiency),
• (b) railways (including rolling stock), roads or other forms of transport,
• (c) climate change (including the removal of greenhouse gases from the atmosphere).