Climate Crisis, COVID-19, Economy, Environment, Financial Services, Islamic Finance, Parliament, Questions, Uncategorized

Green Economic Recovery

Posted by Lord Sheikh

My Lords, I declare an interest, as I am the co-chair of the APPG on Islamic Finance. Islamic  finance can play a role in the green industrial revolution. As we will issue our first sovereign  green bonds in 2021, I ask my noble friend the Minister: will Her Majesty’s Government consider the issuance of green sovereign sukuks, which will help support a green economic recovery following the pandemic? I believe that our financial services sector will play a key role in the economic recovery.

Lord Callahan responded:

As the noble Lord rightly acknowledges, next year the UK will issue its first sovereign green bonds, subject to market conditions, and it intends to follow up with a series of further issuances to meet growing investor demand. However, this is a matter for the Treasury, whose Ministers will update Parliament shortly.

Read the full debate on Hansard


Related Post