CEP Director joins HMT and DMO Stakeholder Discussion Forum on Green Gilts and a Retail Green Savings Product

CEP Director joins HMT and DMO Stakeholder Discussion Forum on Green Gilts and a Retail Green Savings Product

The Centre for Energy Policy’s Director, Professor Karen Turner has been appointed to the Stakeholder Discussion Forum (SDF) on the UK government’s plans for issuance of green gilts and a retail green savings product. The SDF has been newly created by Her Majesty’s Treasury (HMT) and the UK Debt Management Office (DMO).  

The main purpose of the SDF is to bring together a small group of highly respected experts who will be able to provide external perspectives to HMT and the DMO, bringing specialist knowledge to bear on technical aspects of this landmark initiative.

On her appointment to the SDF Professor Karen Turner said:

“The stakeholder discussion forum will facilitate important discussions around the Government’s role in transitioning and evolving the economy to align with mid-century net zero emission targets. Understanding the most effective, sustainable and equitable pathways for both the economy and society, and the strategic role of different types of funding approaches and mechanisms in designing and delivering these pathways, is crucial for delivering on the UK’s climate ambitions, particularly in the context of necessary ongoing focus on how the economy recovers from the Covid-19 pandemic.

Launching the SDF the DMO state that:

“Green gilt issuance is an innovative new initiative for the UK government, with the goal of helping to finance the transition to a net zero emissions economy, whilst supporting the government’s climate and environmental agenda. The intention is to launch the inaugural green gilt in summer 2021.  Reflecting its long-term commitment to the green finance sector, the government also intends to follow-up with a series of further issues in order to build out a ‘green curve’ over coming years.

“The government will also launch a green retail savings product through NS&I in summer 2021.  This instrument will be closely linked to the UK’s green bond framework, which is due to be published by the end of June 2021, and will give all UK savers the opportunity to take part in the collective effort to tackle climate change.

The following organisations comprise the membership of the SDF:

  • Centre for Energy Policy, University of Strathclyde
  • Climate Bonds Initiative
  • Grantham Research Institute on Climate Change and the Environment
  • Green Finance Institute
  • Impact Investing Institute
  • International Capital Market Association
  • Saïd Business School, University of Oxford
  • United Nations Principles for Responsible Investment