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CLEAN ENERGY

Britain government to sell world’s first sovereign green savings bond

Britain government to sell world’s first sovereign green savings bond
The Siliconreview
01 March, 2021

Britain's government has planned to launch the world's first sovereign green bonds for retail investors to create a net-zero-carbon economy by 2050. This bond will fund several projects in vivid areas such as renewable energy and clean transportation, and it will go on sale this year, the government's Treasury stated in a recent press meet. The government has also launched green gilts to focus on institutional investors.

The Treasury has also added that it would use its budget statement to announce three new renewable and clean energy programs. The one billion pound fund from the governments' Net Zero Innovation Portfolio will be used to improve renewable energy sources and develop innovative methods to reduce carbon emissions. The United Kingdom is also promoting the use of electric vehicles to reduce pollution.

Prime Minister Boris Johnson will be hosting world leaders at a UN climate conference in November, proposing the new green action, and will also agree to stabilize the planet's climate. He will also speak about the recent trends that are happening in Britain to improve green consumption. The government aims to build new labs and conduct research on fossil fuels and how to convert it a renewable forms of energy.