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London. Britain is considering offering “green bonds” to the public to help fund the sustainable-energy industry, it was reported on Monday.

Ian Pearson, economic secretary to the Treasury, said he had asked officials to examine the idea of bringing in the new form of government borrowing.

The bonds, which would be issued by state-backed bank National Savings and Investments, would be used to attract investors to sustainable energy production, the report said. Their introduction would come as Britain seeks new ways to finance infrastructure projects as it fights to balance the books in the wake of the worst recession for decades.

Pearson further said officials were looking at offering long-term contracts to wind farms and green waste companies to supply the public sector as a way of saving money and giving the industry a boost.

“We are thinking of going directly to companies looking to establish energy from waste and wind-farm projects and offering them long-term contracts that would both get the public sector a good deal on price but also get the projects off the ground,” Pearson said.

“If they had, say, a 15-year contract to supply the public sector, that should make it easier for them to raise finance to get the projects going, while tying in with the green agenda.”



Agence France-Presse