Green Gilts

Green gilt issuance

At a ‘Future of the UK Financial Services Sector’ speech in Parliament on 9 November 2020, the then Chancellor of the Exchequer announced that: "to meet growing investor demand, the UK will, subject to market conditions, issue our first ever Sovereign Green Bond next year [2021]. This will be the first in a series of new issuances, as we look to build out a "green curve" over the coming years, to help fund projects to tackle climate change, finance much-needed infrastructure investment, and create jobs across the country". It was announced at the Budget on 3 March 2021 that the government planned to issue its first sovereign green bond – or green gilt – in summer 2021, with a further issuance to follow later in 2021 as the UK looked to build out a "green yield curve".

The UK Government’s Green Financing Framework was first published on 30 June 2021 and then updated on 26 November 2025. The Framework details the types of expenditures that will be financed by green gilt issuance to help meet the government's green objectives, and also commits the government to reporting on the social co-benefits, such as job creation, arising from these expenditures.

The inaugural 12-year green gilt was launched via syndication on Tuesday 21 September 2021. A second green gilt (a new 32-year maturity) was launched on Thursday 21 October 2021, also via syndication.

Planned green gilt sales in financial year 2025-26 are £10.0 billion (cash).

Documentation relating to green gilt transactions can be found below and in the Publications section of the DMO’s website.