Boris Johnson has injected enthusiasm into the UK’s green bond market, but analysts say the country has a challenge ahead to catch up with rivals across the English channel.
Transforming the City of London into the global centre for green finance is a key tenet of the prime minister’s vision for rebuilding the pandemic-stricken economy in a more sustainable way.
His 10-point economic plan unveiled in the Financial Times last month included vows to boost the City’s role in green bonds and carbon trading and to introduce new corporate disclosure requirements.
Analysts said that should help institutions in London increase their focus on sustainable finance, but added that the UK still had a long way to go.
“There’s no doubt about it, continental Europe is far, far ahead of the UK in terms of green bond issuance,” said Trevor Allen, sustainability research analyst at BNP Paribas.
Still, the prime minister’s plans told investors that “this is going to be a…
