John Glen (Conservative)

Ahead of this, HM Treasury and the DMO yesterday published the UK Government green financing framework. This document sets out the Government’s ambitious climate and environmental agenda and their vision for enhancing the UK’s leadership as the world’s preeminent green financial centre. The framework also details how the proceeds from the green gilt and retail green savings bonds will finance expenditures to help tackle climate change, biodiversity loss, and other environmental challenges, while creating green jobs across the UK.

Renewable energy

Climate change adaptation.

the Carbon Trust has produced a pre-issuance impact report on the UK Government green financing programme, which reviews the Government’s intended allocation of proceeds under the framework and the proposed impact metrics. They found that the allocations “align sensibly” with the Climate Change Committee’s recommended climate targets for the UK (known as its “Sixth Carbon Budget”) and they are “confident that the programme will contribute to achieving net zero by 2050”. This is the first report of its kind among sovereign issuers and provides additional evidence of the coherence of the Government’s green financing programme with its wider environmental agenda.

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