The Chancellor today launched the world’s first green savings bond allowing all of us to save while helping investment in our transition to Net Zero.
Based on a proposal first raised by Richard Fuller, MP for North East Bedfordshire, in November 2020, and confirmed by the Chancellor in the Budget in March 2021, the green savings bond has a three year fixed term with a minimum investment of £100.
Commenting on the launch, Chancellor Rishi Sunak thanked Richard Fuller saying this was an “innovative idea to go beyond sovereign green bonds and provides a way for UK savers to support the Government’s green projects as well.”
Richard, who met the Chancellor earlier this week to discuss pre-launch plans said that the idea came from his own childhood experience of getting a premium bond from his grandparents as a Christmas gift.
Richard added:
Some people have tried to draw apart the generations on the issue of climate change, but I see people of all ages wanting to do their bit to help.
I thought this was a nice idea that practically demonstrated that we can all pull together to achieve Net Zero. I hope many families will consider the bonds as a gift idea for the holiday season.
For further details and information on how to apply for the Green Savings Bond, please visit this page.
For information on the types of green expenditures that will be financed by the Green Bonds, please visit this page.
