As London re-examines what it is to be a global financial centre, the UK needs to provide more leadership at home, in terms of tangible activity in climate change, from corporate and sovereign green bond issuance, to greater certainty over renewable energy policy to green housing and infrastructure. There is currently a gap between the UK and other competitor nations which we need to close.
Fifteen steps to green finance
This latest paper sets out fifteen steps to expanding green finance in the UK, falling under three headings: financial policy innovation to promote green finance; domestic infrastructure investment to expand green finance; green finance as a means to boost global trade.
The UK and the City of London specifically, is already a hub for green finance. Expanding its competence and experience on green finance further to seize the opportunities the global transition to a green economy presents will enable both the UK and the City of London to develop a distinctive and competitive offer to investors everywhere. Building upon a groundswell in support from financial institutions for ‘greening’ finance catalysed by the work of the Bank of England, it will also ensure the UK can meet both its domestic and international policy obligations and deliver a successful Brexit process.
Download Fifteen steps to green finance.
Infrastructure has become one of the fastest growing investment sectors worldwide, with private sector infrastructure investment reaching record levels in 2016. In the wake of the Paris Climate Agreement – with an estimated $1 trillion of investment required to achieve global decarbonisation and energy goals – renewable energy infrastructure in particular has emerged as an opportunity to generate significant returns.
We aim to highlight the opportunities for UK pension funds and others to invest in unlisted renewable energy infrastructure.
Our report launched at COP23 15th November: The renewable energy infrastructure investment opportunity for UK pension schemes
On June 19th the IEEFA and GFI hosted a workshop entitled, ‘The renewable energy infrastructure investment opportunity for UK pension funds’. You can read the workshop proceedings here.
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