Nine European industrial giants have pledged to further develop the green bond market.

The companies – which included EDF, SSE and Scottish Power-owner Iberdrola – have together already issued a total of €26 billion (£23bn) in green bonds, representing more than 10% of the market.

They pledged to continue issuing bonds to improve liquidity in the market.

Reports on the environmental impact of the projects funded by the bonds will also be released.

Sharing experience

The group said: “Drawing on our experience, we call on industrial companies sharing the same goals to consider issuing green bonds.

“We are ready to share our practical experience with all interested industrial companies.”

The companies said they would report on progress by December 2018.

> Read the pledge