A word search of the official Budget document reveals 39 references to the word ‘green’, seemingly not a homage to the work of John Buchan but a clue to the Chancellor’s vision of the UK’s post-Brexit economy.
Those 39 references include an announcement of a new Green Gilt aiming to raise £15 billion, and a Green retail savings product issued by NS&I. The 'E' in ESG investing has firmly hit the mainstream.
Given the public pronouncements, and the Government’s form for using tax incentives as a means of encouraging investors' behaviours, attention will turn to the 23 March when a number of tax consultations will be unveiled. Will the Government consult on introducing new tax reliefs for certain types of ESG investments? Watch this space.
the government remains committed to growth that is based on a foundation of sustainability, as the UK makes progress towards meeting its commitment to reach net-zero greenhouse gas emissions in 2050.
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