Finance
U.K. Green Bonds Offer Belated Boost to London’s ESG Ambitions
- U.K. trails France and Germany in issuing green debt
- Investors lobbied for sales amid fears London is missing out
Nov. 9: Sunak Wants U.K. to Be a Leader in Green Finance
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The U.K.’s entry to Europe’s booming green sovereign bond scene could prove a catalyst for broader corporate issuance, helping London’s ambitions of becoming the continent’s ethical investing hub.
The country aims to issue its first green debt next year as part of a trio of measures that Chancellor of the Exchequer Rishi Sunak said would see Britain become “a world leader in the use of green finance.” On Wednesday, U.K. Prime Minister Boris Johnson announced a 12 billion-pound ($15.9 billion) plan to boost green industries, tackle climate change and make the City of London a “global center of green finance.”