Some news in the Times this morning related to an imminent NS&I Green Savings Bond -
Plans for £15 billion of green savings bonds are expected to be announced by the chancellor this week, allowing people to invest in renewable energy projects such as wind and solar power.
Rishi Sunak will use a speech at Mansion House in the City of London to reveal details of the scheme, which is expected to be one of the biggest issues of green bonds in the world.
They will be available through NS&I, the Treasury-backed savings organisation that also offers Premium Bonds.
https://www.thetimes.co.uk/article/rishi-sunak-15bn-green-savings-scheme-public-5gph2jqmw
I'd not noticed before, but there's an NS&I page already set up that's also mentioning this scheme -
Green saving – coming soon. We’re offering a green savings product on behalf of government. Coming later in 2021.
We’re working with government to give UK savers like you the opportunity to contribute towards projects that will accelerate the transition to a low carbon economy, create green jobs, and support the collective effort to tackle climate change. More details will be coming soon, including information about the savings account and how you’ll be able to invest.
https://www.nsandi.com/get-to-know-us/green-saving
Cheers,
Itsallaguess
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NS&I - Green Savings Bond
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Re: NS&I - Green Savings Bond
Itsallaguess wrote:Some news in the Times this morning related to an imminent NS&I Green Savings Bond -
[i]Plans for £15 billion of green savings bonds are expected to be announced by the chancellor this week, allowing people to invest in renewable energy projects such as wind and solar power.
There are already Investment Trusts that invest in renewable energy projects and these make periodic public offers to raise additional funds. Projected rates of return are high enough for these to be regarded as "High Income". The holders are taking investment risk both to their capital and the flow of dividends.
We wait to see what guarantees of capital value and rate of return will be offered by NS&I and what the headline offer will be.
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Re: NS&I - Green Savings Bond
More details...
Cash must be locked away for 3 years (to get interest) - but the rate is not yet disclosed.
https://www.bbc.co.uk/news/business-57670057
Cash must be locked away for 3 years (to get interest) - but the rate is not yet disclosed.
https://www.bbc.co.uk/news/business-57670057
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Re: NS&I - Green Savings Bond
As the article points out, average rate on the market for 3-year is 0.76% , max 1.26%
I'm guessing they will set them at just over 1% (to avoid the 'Less than 1%" headlines)
Be still my beating heart!
I'm guessing they will set them at just over 1% (to avoid the 'Less than 1%" headlines)
Be still my beating heart!
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