The Carbon Trust was commissioned by HM Treasury and the Debt Management Office to develop a report on the impact and alignment of the UK green financing programme further to Rishi Sunak’s announcement on the UK's commitment to issuing a sovereign green gilt and a retail green savings bond this year.
The UK government, as outlined in the UK Government Green Financing Framework, is pursuing green gilt (bond) issuances alongside a world-first green retail savings bond via NS&I.
Collectively, these are referred to as the UK government green financing programme and this report has looked at the total pool of eligible projects and programmes that may be financed or refinanced by both product types.
The purpose of the pre-issuance impact assessment report is to outline:
- the likely approach to be taken for reporting the sustainability impacts of the UK government green financing programme;
- a shortlisting of likely available metrics that the government will aim to report against; and
- an upfront (ex-ante) assessment of the allocation and alignment of the likely financed activities with the government’s sustainability related policies, highlighting how the UK government green financing programme supports the climate goals and commitments of the UK government.