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For the past six months the Climate Bonds Initiative, working with a range of associated groups, has been pressing political parties in the UK to adopt policies for a “Green Investment Bank” and for “Green Bonds”. (You can read more about these proposals in our Climate Bonds discussion paper).
In late November the UK Conservative’s Shadow Chancellor announced that, if they win government, they will set up a Green Investment Bank to:
“design frameworks that provide the certainty and incentives to attract private sector investment in green technologies”
Osborne also said that they will pursue “green bonds, or some other type of securitised financial instrument”. His stated aim is to help “decarbonise our economy”.
This was big policy win. Of course we need to make the detail work, but one step at a time.