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<p>On Monday 9 November, The Chancellor of the Exchequer announced the UK’s intention
is issue its inaugural Sovereign Green Bond (SGB), subject to market conditions, in
2021.</p><p> </p><p>Further details on timings and other aspects of the policy, such
as the issuance framework, which will set out the projects that the SGB will help
to finance, will be provided in due course.</p><p> </p><p>While it is possible that
government expenditures on projects relating to waste recovery and energy generation
from waste could be financed with the proceeds of the SGB, such decisions will be
made in the coming months following discussions with other government departments,
structuring advisors and other stakeholders. The government will provide updates as
appropriate.</p><p> </p><p>The government is already taking powers in the Environment
Bill to implement Extended Producer Responsibility (EPR) schemes which promote waste
recovery. These require producers to fund the end of life costs of their products
and can deliver higher collection, recycling and recovery rates.</p><p> </p><p>In
addition, the Landfill Tax was introduced in 1996 with the aim of diverting waste
away from landfill to more environmentally friendly alternatives, such as Energy from
Waste. It has been hugely successful in achieving this aim alongside other waste policy
– since 2000, Local Authority waste sent to landfill in England has fallen by 87%.</p>
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