UK plans green government bond issues

The UK has announced plans to issue £15bn worth of green government bonds.

The green savings bonds will allow investment in renewable energy projects such as wind and solar power. They will be available through NS&I, the Treasury-backed savings organisation that also offers Premium Bonds. The Treasury has named six types of expenditure to be funded by its new green gilts: clean transportation, renewable energy, energy efficiency, pollution prevention and control, living and natural resources and climate change adaptation. It says that nuclear power projects would be excluded along with large-scale hydroelectric energy would also be excluded due to risks to natural habitats.

UK Chancellor Rishi Sunak will announce details at his Mansion House speech this week.