Tideway: First UK Firm to Issue Blue Bonds in Sterling

• A blue bond is a type of green bond with the objective of protecting water and marine environments.
• The project highlights the judicious use and protection of water resources.
• It has been issued to forestall sewage waste from entering the River Thames.

The company responsible for the Thames Tideway Tunnel project, Tideway, has become the first UK firm to issue blue bonds in Sterling (British Currency).

Blue bonds are a type of green bond issued by an organisation to support environmental projects, such as marine and water-related initiatives.

By issuing blue bonds, Tideway has gone beyond infrastructure and is working towards protecting marine ecosystems and improving water quality.

READ MORE: Blue Bonds: Catalysing Investment in Marine Conservation

While working on the project, the company has issued 18 green bonds to fund sustainable projects. With the super sewer now operational and collecting sewage pollution, they have issued a new bond with a "blue" label to show the project's impact on cleaning up the River Thames.

Tideway’s CFO, Mathew Duncan, said: "Tideway was one of the first to issue Green Bonds as the project was getting underway, and so it’s great to be building on that legacy with this latest issuance.

“Blue Bonds emphasise the importance of the sustainable use and protection of water resources, highlighting the main purpose of the company – cleaning the river.”

The Thames Tideway Tunnel prevents tens of millions of tonnes of sewage from entering the River Thames each year. Since becoming operational in February 2025, it has stopped more than 7 million tonnes of sewage, with no sewage spills reported.

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A total of £250 million has been raised through this 8-year Blue Bond.

“With the super sewer now protecting the tidal Thames, including therefore the Thames Estuary and the North Sea, it’s wonderful to be able to offer Blue Bonds in the UK for the very first time," Duncan concludes.

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Source: Tideway