Let the investor beware: why buying UK government Green Savings Bonds now means backing nuclear.

15th December 2025, https://www.nuclearpolicy.info/news/let-the-investor-beware-why-buying-government-green-savings-

In commercial transactions, prospective purchasers are often urged to exercise caution before signing on the dotted line with a Latin phrase, ‘caveat emptor’ or ‘let the buyer beware’. The UK/Ireland Nuclear Free Local Authorities would like to warn future purchasers of government savings products to be wary that they might be investing in nuclear projects.

The UK’s Green Financing Programme raises financing from investors through the issuance of green gilts via the Debt Management Office and the sale of retail Green Savings Bonds to the public via National Savings and Investments. This money has been invested in projects which help the government move toward their ambition to achieve net zero carbon emissions by 2050.

Many savers desiring to help tackle climate change will have invested their hard-earned money into the three-year, interest-bearing bonds which were first launched in October 2021.

To date, the Green Financing Programme has raised over £51 billion.

The Green Financing Framework issued in 2021 included guidelines on the projects that could be backed; these fell into six categories: clean transportation, renewable energy, energy efficiency, pollution prevention and control, living and natural resources, and climate change adaptation.

Every year the government publishes a report identifying which projects have been backed into the last twelve months and their impact on climate emissions[i]. Typically this has including building offshore wind farms, investing in electric buses, offering discounts on electric vehicles, installing electric vehicle charging points, planting masses of trees, and insulating homes.

Now in a retrograde step, the government, obsessed with funnelling as much public money as possible into nuclear power, has issued a revised Green Financing Framework, with future investment in nuclear energy projects now included in the list of Eligible Green Expenditures.[ii]

The Framework makes clear that ‘the proceeds from sales of green gilts or Green Savings Bonds issued prior to 27 November 2025 will not be allocated to nuclear energy related expenditures’, but there will be no restriction on such investment after this date.

In the new supposedly ‘Green’ Category: Nuclear Energy, investment can be made in: ‘Electricity and/or heat (including cogeneration); support for the design, development, construction, commissioning, safe operation, lifetime extension, or supporting infrastructure of new or existing nuclear power generation assets (including enabling fuelcycle activities; radioactive waste and spent fuel storage, management and final disposal), and research and development for future fission and fusion energy technologies

Nuclear is NOT a green energy technology, but permitting the use of money raised from green investors in the management and disposal of high-level radioactive waste, which poisons people and our planet for millenia, must surely be the ultimate travesty. Our advice: avoid.