Savings scheme

Sunak UK plans to announce stg 15 billion green savings program to the public – The Times

British Chancellor of the Exchequer Rishi Sunak attends a virtual press conference inside 10 Downing Street, central London, Britain on March 3, 2021. Tolga Akmen / Pool via REUTERS

June 30 (Reuters) – UK Finance Minister Rishi Sunak is expected to announce plans for £ 15bn ($ 21bn) of green savings bonds, allowing people to invest in energy projects renewable sources such as wind and solar power, The Times reported Wednesday.

Two tranches of green bonds are expected to be issued in 2021-2022, the first tranche is expected to be worth around £ 7 billion and will be issued in September, the newspaper said.

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

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

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

($ 1 = 0.7225 pounds)

Report of the contractor Sabahatjahan in Bangalore; Editing by Tom Hogue

Our standards: Thomson Reuters Trust Principles.

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