LONDON, Oct 7 (Reuters) – Investors managing more than 10 trillion pounds ($13 trillion) on Wednesday backed a call for Britain to join a growing number of countries issuing sovereign bonds to help fund environmentally friendly projects and bolster social goals.
Thirty groups including Schroders SDR.L and Natwest said they supported the idea of a ‘Green +’ gilt, as proposed by the Green Finance Institute, the Impact Investing Institute and the LSE Grantham Research Institute on Climate Change and the Environment.
Unlike a straight green bond, the Green + gilt would also help the government meet social goals such as creating jobs.
The proposal comes days after Prime Minister Boris Johnson pledged to ‘build back greener’ from the COVID-19 pandemic and as Britain gears up to host the next round of global climate talks in 2021.
“The UK’s first green sovereign bond, issued at scale, would catalyse the development of