The Investment Association (IA) has urged the UK Government to ensure clear guidelines and strong reporting standards in its planned issuance of the nation's first green sovereign bonds, as part of a host of priorities outlined on behalf of its membership.
In a report published this morning (26 March), the IA said green gilts, which are intended to tackle climate change, fund infrastructure projects and create green jobs, should be held to the strict standard of conventional sovereign issuance in addition to new requirements specific to the use of their proceeds. In November 2020, Chancellor Rishi Sunak confirmed the UK would move ahead with the country's first sovereign green bond in 2021 as part of its efforts to build a net-zero economy by 2050, entering a market with issuances currently dominated by the European Union. Following t...
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