{"id":59454,"date":"2021-09-23T20:16:50","date_gmt":"2021-09-24T01:16:50","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59454"},"modified":"2021-09-23T20:16:50","modified_gmt":"2021-09-24T01:16:50","slug":"the-uks-green-gilt-is-marketing-puff-and-a-pointless-distraction","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59454","title":{"rendered":"The UK\u2019s Green Gilt is Marketing Puff and a Pointless Distraction"},"content":{"rendered":"<div class=\"hero-section\" data-type=\"type-2\">\n<header class=\"entry-header ct-container-narrow\">\n<h3 class=\"page-title\" title=\"The UK\u2019s Green Gilt is Marketing Puff and a Pointless Distraction\"><a href=\"https:\/\/morningporridge.com\/blog\/blains-morning-porridge\/the-uks-green-gilt-is-marketing-puff-and-a-pointless-distraction\/?unapproved=462&amp;moderation-hash=3fd96bcb42ef253e5df591bbe01264eb#comment-462\">The UK\u2019s Green Gilt is Marketing Puff and a Pointless Distraction<\/a><\/h3>\n<div class=\"page-description ct-hidden-sm\"><strong>The UK attracted a record \u00a3137 bln order book for its \u00a310 bln Green Gilt. But what does the Green Gilt achieve? Its marketing puff. It may disguise how ill-considered and ultimately self-defeating the Government\u2019s rush to looking green has been. No matter how well intentioned a Green Gilt is \u2013 its style over substance, papering over the cracks in a confused and contradictory long-term climate-change mitigation strategy.\u00a0\u00a0<\/strong><\/div>\n<\/header>\n<\/div>\n<div class=\"ct-container\" data-sidebar=\"right\" data-vertical-spacing=\"top:bottom\">\n<article id=\"post-9122\" class=\"post-9122 post type-post status-publish format-standard has-post-thumbnail hentry category-blains-morning-porridge category-green-bonds category-uk category-uk-debt tag-uk tag-uk-green-gilt\">\n<div class=\"entry-content\">\n<p><em>\u201cEvery decent con man knows a simple truth is more powerful than an elaborate lie..\u201d<\/em><\/p>\n<p>This morning:\u00a0<em>The UK attracted a record \u00a3137 bln order book for its \u00a310 bln Green Gilt. But what does the Green Gilt achieve? Its marketing puff. It may disguise how ill-considered and ultimately self-defeating the Government\u2019s rush to looking green has been. No matter how well intentioned a Green Gilt is \u2013 its style over substance, papering over the cracks in a confused and contradictory long-term climate-change mitigation strategy. \u00a0<\/em><\/p>\n<p>It fills my heart with joy and makes me proud to be British that the UK Government just received \u00a3137 billion of orders for its debut Green Bond \u2013 a record historical amount for any UK bond or Green Bond. (US Readers\u2026\u00a0<em>disinterested sarcasm alert<\/em>.)<\/p>\n<p>Investors were apparently tumbling over themselves to place orders, but I can\u2019t say many will be surprised or disappointed when they got less than 7% of their order. The \u00a310 bln Green Gilt due in 2033 (12 year) will pay a 0.875% and was priced to yield 0.8721%\u2026 which is a bit more than the comparable 11year bond was paying at the time\u2026.<\/p>\n<p>The proceeds of the new Green Gilt will specifically be earmarked to support green projects including zero-emission transport and offshore wind projects. I don\u2019t quite understand how the spending programme will actually work&#8230;<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The UK\u2019s Green Gilt is Marketing Puff and a Pointless Distraction The UK attracted a record \u00a3137 bln order book for its \u00a310 bln Green Gilt. But what does the Green Gilt achieve? Its marketing puff. It may disguise how ill-considered and ultimately self-defeating the Government\u2019s rush to looking green has been. No matter how [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[23143,1405,820,31825],"class_list":["post-59454","post","type-post","status-publish","format-standard","hentry","category-economics","tag-blains-morning-porridge","tag-green-bonds","tag-uk","tag-uk-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59454"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59454\/revisions"}],"predecessor-version":[{"id":59455,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59454\/revisions\/59455"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}