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Sewage Flowing in London’s River Thames Draws Green Bond Demand

  • Bazalgette Finance’s pound bonds to fund Thames Tideway tunnel
  • Project aims to stop tonnes of raw sewage entering river
The River Thames in central London.

The River Thames in central London.

Photographer: Victoria Jones - PA Images/Getty Images

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The green bond market just got one of its biggest challenges yet -- cleaning up London’s River Thames.

A sale of the notes aims to help to fund upgrades to the city’s Victorian-era sewers, as population growth in London heaps increasing pressure on them. Designed to serve about 4 million people, the sewers instead handle waste from more than double that number, leading to multiple sewage overflows every year.