Press release

3 Mar 2021 London, GB

Green gilt and national savings and investment (NS&I) product: Positive steps for the UK’s sustainability journey, says EY

Gareth Mee, UK Financial Services Partner at EY, comments on the Chancellor’s announcement of a new green gilt and the proposed Green retail National Savings and Investment (NS&I) product

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Gareth Mee

Partner, Sustainable Finance Consulting, Ernst & Young LLP

Part of an award-winning innovative investment consulting team, passionate about maximising investment value, responsibly. Driven by a desire to ensure my daughters inherit a more sustainable world.

Gareth Mee, UK Financial Services Partner at EY, comments on the Chancellor’s announcement of a new green gilt and the proposed Green retail National Savings and Investment (NS&I) product: 

“The Government has committed £15bn to green projects in today’s Budget, signalling tangible progress on the green finance agenda ambitions laid out in 2020. Green gilts are an interesting and innovative way the financial sector can contribute to achieving a greener future, but they must be managed very carefully. The accounting and monitoring of both these initiatives are complex and will require best in class accounting and reporting frameworks to ensure that green funds are used appropriately and in a transparent manner. Overall, the benefits to the taxpayer and to individual investors have the potential to be far-reaching and significantly accelerate the flow of private capital into national green infrastructure, which will help the UK meet its net zero ambitions.”