UK Water Giants Accused of 'Greenwash on Steroids'

Privately owned water companies in England have issued a substantial £10.5 billion in green bonds since 2017, accounting for 19% of all such corporate issuance. This financial activity occurred concurrently with a consistently poor record of sewage pollution. Anglian Water and Thames Water have been particularly active issuers, ranking high among UK corporations.

Despite the designation of these bonds for environmental benefits, including sustainable water management, the UK water industry faces decades of criticism for underinvestment and environmental neglect. The Environment Agency recently noted a decline in sector-wide environmental progress, fueling accusations of 'greenwashing.' James Wallace of River Action described the practice as 'corporate greenwash on steroids.'

Further scrutiny reveals that Thames Water has failed to publish impact reports for its green bonds for two years, contrary to industry standards. While companies like Anglian Water claim funds have driven environmental improvements and essential investment, critics emphasize that crumbling infrastructure continues to harm rivers and communities, demanding true environmental benefits over masked pollution.