Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the effectiveness of National Savings and Investments green savings bonds at raising capital for green projects.

National Savings and Investments’ (NS&I’s) core purpose is to raise cost effective financing for the Government. Green Savings Bonds are currently offered at a 4.20% interest rate to UK savers. As with all products NS&I keeps these interest rates under review and will continue to align with its operational framework, which is to ensure that NS&I remains cost-effective for the government whilst balancing the interests of its savers, tax payers and the market.

Every year the list of projects funded by the Green Savings Bond is published in the Allocation Report, the environmental impacts of these projects is then published in the Impact Report biennially, the first of which is due later in 2023. Previous reports are available here: www.gov.uk/government/publications/uk-government-green-financing