The UK’s first green bond has been hailed as the largest inaugural green issuance by any sovereign.

The Green Gilt raised £10 billion for green projects, including zero-emissions buses and offshore wind, the Treasury confirmed.

A second issuance is expected later this year.

Rishi Sunak wrote on Twitter: “This is the largest inaugural green issuance by any sovereign with the largest ever order book for a sovereign green transaction.”

This is the 𝙡𝙖𝙧𝙜𝙚𝙨𝙩 𝙞𝙣𝙖𝙪𝙜𝙪𝙧𝙖𝙡 𝙜𝙧𝙚𝙚𝙣 𝙞𝙨𝙨𝙪𝙖𝙣𝙘𝙚 𝙗𝙮 𝙖𝙣𝙮 𝙨𝙤𝙫𝙚𝙧𝙚𝙞𝙜𝙣 with the largest ever order book for a sovereign green transaction.

This funding will create jobs and be used to finance vital green government projects across the country. https://t.co/QrE2o6ah2U

— Rishi Sunak (@RishiSunak) September 21, 2021

The Chancellor of the Exchequer Rishi Sunak added: “Green finance is vital in helping us to tackle the environmental challenges we face and the launch of our first green bond is a signal that the UK continues to be a world leader in this area.

“This funding will be used to finance vital green government projects across the country, including things like clean transportation, renewable energy and preserving our natural environment.

“In helping us to build back better and greener, it will also help to create jobs as we transition to net zero.”