UK green bond growth set to overcome Brexit chaos

Green bonds are set for a bumper year throughout Western Europe, and development of a UK market is not expected to be hampered by London losing its passporting rights

Brexit is causing havoc for the UK’s finance sector after firms lost their passporting rights—which had enabled UK-regulated products to be sold throughout the bloc—on 1 January. While the December Brexit trade deal provides comprehensive details for the tariff and quota free trade of goods, it provides only a rough way forward for firms to continue to provide services to the EU. With no concrete progress on the EU granting ‘equivalence’ governing financial services, financial service companies are effectively operating under a hard-Brexit scenario. “I would expect to end the year with a significantly increased green market in the UK” Kidney, Climate Bonds Initiative There has alread