Tideway Launches £250 Million Blue Bond to Fund Thames Cleanup
- Hanaa Siddiqi
- Jun 27
- 2 min read

Tideway, the company driving London’s massive new sewer system, has just made history, becoming the first corporate to issue a Blue Bond in sterling. You’ve probably heard of Green Bonds. Blue Bonds are their ocean-focused cousin. They’re designed to fund projects that benefit marine ecosystems, oceans, and waterways. In other words, they’re for companies that don’t just talk sustainability, they pour concrete (literally) to back it up.
Tideway isn’t new to this kind of financing. This marks its 19th green-labelled issuance. But this time, the bond wears a blue badge. Why? Because their signature project—the Thames Tideway Tunnel- is not just under construction anymore. It's operational. And it’s already delivering on its promise.
Tideway 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.
“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.
“Blue Bonds emphasise the importance of the sustainable use and protection of water resources, highlighting the main purpose of the company – cleaning the river.”
For decades, millions of tonnes of raw sewage overflowed into the Thames every year. Now, that’s changing. Since February 2025, when the tunnel was fully connected, there have been zero discharges from the outflows linked to Tideway’s new infrastructure. To date, the tunnel has intercepted more than seven million tonnes of sewage that would’ve otherwise polluted London’s iconic river.
The £250 million raised from this new eight-year blue bond will help provide additional liquidity as the project enters its final phase—system acceptance—scheduled for completion by 2027.
This isn’t just financial innovation. Its infrastructure with environmental intent. And it’s setting a blueprint for how major cities can fund and scale projects that protect our waterways while delivering long-term economic and ecological value.
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