Rishi Sunak: UK to issue first green bond and require firms to disclose climate risk

Chancellor unveils raft of green finance plans

Chancellor Rishi Sunak. Photo: Pippa Fowles/No 10 Downing Street/Flickr CC BY-NC-ND 2.0

Chancellor Rishi Sunak. Photo: Pippa Fowles/No 10 Downing Street/Flickr CC BY-NC-ND 2.0

The government plans to cement the UK's position as a global centre for green finance received a significant boost yesterday (9 November), with the Chancellor Rishi Sunak unveiling proposals to issue the country's first sovereign green bond next year and make climate risk disclosure mandatory for major companies from 2025.

In a statement to Parliament yesterday, Sunak said the government would issue the UK's first Sovereign Green Bond in 2021, subject to market conditions. He also promised that the initial bond would be followed by a series of further issuances designed to meet growing investor demand for green bond instruments. "This will be the first in a series of new issuances as we look to build out a green curve over the coming years, helping to fund projects to help tackle climate change, finance much needed infrastructure and investment and create green jobs across this country," said Sunak. ...

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