The revenue raised from the Sovereign Green Bond, and green retail savings bonds, will be invested in projects which deliver environmental benefit. This will be set out in the UK’s Green Bond Framework document (see above), which will be published by the end of June, ahead of the first issuance. The Government is committed to a transparent and robust green expenditure selection process which aligns with recognised international standards including, but not limited to, International Capital Market Association’s (ICMA’s) Green Bond Principles. This will ensure demonstrable and significant environmental benefit. The post-issuance environmental impact reporting will provide additional clarity on the measurable environmental benefits of projects financed by the green gilt proceeds.