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UK's Sunak plans to announce 15 billion stg green savings scheme for public -The Times

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By Reuters
UK's Sunak plans to announce 15 billion stg green savings scheme for public -The Times
UK's Sunak plans to announce 15 billion stg green savings scheme for public -The Times   -   Copyright  Thomson Reuters 2021
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-British Finance Minister Rishi Sunak is expected to announce plans for 15 billion pounds ($21 billion) green savings bonds, allowing people to invest in renewable energy projects such as wind and solar power, The Times reported on Wednesday.

Two tranches of green bonds are expected to be issued in 2021-22, the first tranche is likely to be worth about 7 billion pounds and will be issued in September, the newspaper said.

Sunak is expected to announce the plans this week and will reveal details of the scheme in a speech at Mansion House in City of London, the newspaper said.

UK’s Treasury Department was not immediately available for Reuters request for comment.

Last year, Rishi Sunak said Britain will sell its first “green” government bond in 2021 to capitalise on growing investor interest in assets designed to fund environmentally-friendly spending.

($1 = 0.7225 pounds)