Green investments

Chancellor announces £15bn of Sovereign Green Bonds

Chancellor of the Exchequer, Rishi Sunak, has announced that £15bn of Sovereign Green Bonds (‘Green Gilt’), will be set aside this financial year to help decarbonise areas of the economy during his first Mansion House speech.

Green projects like zero-emissions buses, offshore wind and schemes to decarbonise homes and buildings will be eligible for funding, in what will be the UK’s first ever Sovereign Green Bonds and will be offered by National Savings and Investments (NS&I).

The speech comes after the government launched its Green Financing Framework on 30 June and sets out the government’s ambitious climate and environmental agenda, as well as its vision for enhancing the UK’s leadership as the world’s pre-eminent green financial centre.

It also details how the proceeds from the Green Gilt and Green Savings Bonds will finance expenditures to help tackle climate change, biodiversity loss and other environmental challenges, while creating green jobs across the UK.

As part of this, the framework lists the six types of green expenditures that will be financed across the UK by the Green Gilt and Green Savings Bonds:

  • Clean Transportation
  • Renewable Energy
  • Energy Efficiency
  • Pollution Prevention and Control
  • Living and Natural Resources
  • Climate Change Adaptation

The Framework also commits the government to annual allocation reporting and biennial reporting on environmental impacts and social co-benefits, ensuring transparency for retail and institutional investors and other interested parties.

These products will give both investors and savers across the UK the opportunity to join the collective fight against climate change and other environmental challenges.


In his speech, the Chancellor also announced plans to require companies, pension schemes, financial services firms and their investment products to report on the impact they are having on the climate and environment.

As well as this, they will have to report on the risks and opportunities facing their business.

The government intends to legislate to deliver this and will set out its approach to green finance regulation ahead of COP26.

They will also work with the Financial Conduct Authority (FCA) to create a new sustainable investment label, a quality stamp, so that consumers can clearly compare the impacts and sustainability of their investments for the first time.

Commenting, Mr Sunak said: “
Financial services don’t just generate prosperity at home. They give us the economic power to project our values on the global stage.

More open, more competitive, more technologically advanced, and more sustainable, that is our vision for financial services.

The roadmap we are publishing today sets out a detailed plan for the next few years and I look forward to delivering it, together.

PSE will be hosting a Public Sector Decarbonisation event on 9 September. Join us for the full day event by registering here.

Public Sector Executive, Feb/March, Cover

PSE Feb/March, 23

Greater choice, greater results

Our February/March 2023 edition of PSE brings you expert comment and analysis on a range of key public sector topics, from EV infrastructure to Digital transformation and reducing carbon emissions. Learn how the UK Government is investing in highway and freight innovation or read Cllr Matthew Hicks discuss the first step towards an exciting future for Suffolk, alongside so much more…

Videos...

View all videos
#PSE365: Public Sector Decarbonisation

Be A Part Of It!

PSE365: Public Sector Decarbonisation Virtual Event | 21 Mar 2023

PSE has created a full calendar of events to address the most important issues that influence the delivery of public sector services. 

Over 365 days you’ll have the opportunity to hear from a range of highly motivating, informative and inspirational speakers. These speakers will equip you with knowledge and unique insight to enable you to overcome the challenges that you face.

Industry Survey

What are the biggest issues facing the Public Sector?

 Public Sector Executive is undergoing some in-depth research around the issues the Public Sector is facing and the importance of deploying and using new technology within Public Sector organisations. 

We are asking for your help to better understand how public sector organisations are utilising technology to support their digital strategy and your opinion on what the biggest issues facing the public sector are.

This survey only takes a couple of minutes to complete and to thank you for your time and for filling out our survey, we'll enter you into a prize draw to win a £50 Amazon voucher.

In order to assist public sector organisations with improving their existing technology estate, we hope to leverage our findings to share best practises and innovations across the public sector.

More articles...

View all