U.K.’s Green Ambitions Trail Europe in Sustainable Bond Market
- Plans to sell green bonds put it behind Germany and France
- ESG debt in sterling makes up only 6% of Europe’s record sales
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The U.K.’s late entry to the booming green debt market will leave it struggling to catch up with European peers, undermining ambitions for London to become a world leader in environmental finance.
The British government will only sell its first green asset this summer, by which time Germany will have a whole yield curve of debt for investors. Spain will also beat it to a debut, following a record-breaking entrance from Italy this month, while France is the top issuer.