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Water firms issuing 'green bonds' despite sewage record
The Guardian
|December 01, 2025
Water companies have issued a fifth of the UK’s “green bonds” since 2017, despite a consistently poor record of sewage pollution during that time, analysis has shown.
Privately owned water companies in England have together issued £10.5bn in bonds tied to projects that offer “environmental benefits”, according to analysis of financial market data by Unearthed, part of Greenpeace UK.
Anglian Water has been the biggest water company issuer, at £3.5bn, with struggling Thames Water second at £3.1bn. They were the thirdand sixth-largest issuers of corporate green bonds overall since 2017.
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