Finance Monthly - November 2021 Edition

9 Finance Monthly. The Mon t h l y Round -Up uer Rishi Sunak said: “Our world-first Green Savings Bonds give savers across the UK the chance to back the Government’s green projects and put their money to work in the fight against climate change. “The UK is already a world leader in green finance and these innovative new savings bonds will deliver both financial returns and environmental benefits, in a transparent and secure way.” The United Kingdom has launched the first green savings product in the world as it brings a green savings bond to the mar- ket. The Green Savings Bonds are offered at a 0.65% fixed annual rate over a three-year term and are available through NS&I’s website. The bond will al- low savers of 16 years and above the chance to back the UK Government’s sus- tainable projects, helping to tackle the climate crisis. Green projects including offshore wind, zero-emis- sions public transport, and innovative low-car- bon technologies will be eligible for funding, as well as programmes that help the UK prepare for the implications of a changing climate. Projects that increase living and natural resources, such as protecting biodiversity and environmentally sus- tainable agriculture will also be eligible. There is a rapidly rising demand for environmen- tally-friendly investments, especially amongst younger generations. The bonds will offer savers a means of generating both financial and environmen- tal returns. The government will reg- ularly update savers on which projects have re- ceived funding and will share the positive envi- ronmental impact their investment is having. Chancellor of the Excheq- World’s First Green Savings Bond Launched by the UK Tesla’s market value has surpassed the $1 trillion mark for the first time af- ter rental company Hertz ordered 100,000 of its ve- hicles. The clean energy car man- ufacturer’s stock market value has soared through- out 2020 and 2021 as in- vestors bet on accelerat- ing sales of electric cars in a global push towards increased sustainability amid the climate crisis. By 2030, the UK Govern- ment plans to ban the production of petrol and diesel cars to meet nation- al climate targets. On Monday 25th October, Tesla shares increased by as much as 9% to as high as $998 following the announcement of Hertz’s 100,000 vehicle order. The shares later re- turned to below this level. Nonetheless, it marks a major milestone for Elon Musk’s company. The milestone follows a record quarter for Tesla in which its Model 3 became Europe’s best-selling car in September. This was the first time a battery-electric vehicle topped the month- ly sales chart in the conti- nent. Hertz has said that the vehicles would be deliv- ered by the end of 2022 as part of its goal to build the largest EV rental fleet in the United States. It is understood that the pur- chase could cost as much as $4 billion, even with a bulk discount. Tesla Surpasses $1 Trillion Market Value after Hertz Orders 100,000 Vehicles