Budget 2021

The 2021 Budget, announced by the UK Treasury in March 2021, contained a number of references to net zero targets. Through the budget, the UK's Net Zero target has been made part of the UK Government's "overall economic policy objective" and as a result is to be incorporated into the remit of the Bank of England. The budget also includes plans for a new National Infrastructure Bank with £22 billion of financing and for the issuance of the UK's first green government bond or gilt.As policy decisions it states that the e new UK Infrastructure Bank will provide financing support to private sector and local authority infrastructure projects across the UK, to help meetgovernment objectives on climate change and regional economic growth. Also, the government will offer a green retail savings product through NSI in the summer of 2021. This product will be closely linked to the UK’s sovereign green bond framework and will give all UK savers the opportunity to take part in the collective effort to tackle climate change, benefiting from the innovative reporting standards planned for the green gilt programme.