UK’s green gilt sale raises £10bn

Major demand pushed the Government’s green gilts sale to raise £10bn, the largest inaugural green issuance by any sovereign, with the largest ever order book for a sovereign green transaction. A second issuance will take place later in the year.

As set out in the Government’s Green Financing Framework, published earlier in the summer, the money raised by the Green Gilt will be used to finance expenditures in clean transportation, energy efficiency, renewable energy, pollution prevention and control, living and natural resources, and climate change adaption.

In addition, the government is touting its credentials as being the first comparable sovereign issuer to commit to reporting on both the environmental impact, and the important social co-benefits of green expenditures financed by these gilts, such as job creation, access to affordable infrastructure and socioeconomic advancement.

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