Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has plans to make additional green saving bonds available through National Savings & Investments in 2022.

In October 2021, National Savings & Investments (NS&I) launched a first issue of Green Savings Bonds to give retail savers across the UK the chance to back the Government’s green projects and put their money to work in the fight against climate change. This first issue had a rate of 0.65% gross/AER fixed over a three-year term. In February 2022, NS&I repriced Green Savings Bonds through a second issue at 1.30% gross/AER fixed over a three-year term. This second issue remains on sale to UK retail customers. NS&I and HM Treasury continue to monitor demand for this product.

The retail Green Savings Bonds are part of the UK’s Green Financing Programme, under which the UK also issues sovereign green bonds (or ‘green gilts’) to institutional investors. The Government has announced that it plans to raise a further £10bn via green gilts in the 2022-23 financial year.