Please enable JavaScript.
Coggle requires JavaScript to display documents.
The Green Finance Strategy - 2 July 2019 (What is It? https://www.edie…
The Green Finance Strategy - 2 July 2019
What is It?
https://www.edie.net/news/11/UK-unveils-Green-Finance-Strategy-to-drive-progress-towards-net-zero-goal/
This is a strategy outlining how the finance sector can help the move towards increased action on climate change to meet the 2050 target set last month for net zero emissions.
It includes expectations for listed companies to disclose climate risk and impact data by 2022.
A £5 million Green Home Finance Fund has been formed to help home energy efficiency grants and green mortgages (Barclays).
This will help pilot projects like green mortgages which utilise green finance for home energy efficiency and incentivises energy efficiency retrofit to make homes more.sustainable.
https://www.gov.uk/government/news/city-must-lead-the-way-in-securing-a-greener-future
Green mortgages will offer discounted rates to customers once they have upgraded the energy efficiency of their home.
https://www.moneyexpert.com/mortgages/government-announces-rollout-green-mortgages/
A Green Finance Education Charter will be launched to increase the knowledge around green finance and the climate as part of future qualifications and certificates for financial practioners.
£5.8 billion has also been set aside for international climate finance to encourage other nations to act on climate change together.
"It will help ensure our financial system is robust enough to respond to the profound changes that climate change and the transition to a clean economy bring with them." - Secretary of State for Business, Energy and Industrial Strategy & Chancellor of the Exchequer
Noted by the International Energy Agency - since 1990 we have grown the economy by 2/3 and reduced our carbon emissions by over 40%, the strongest performance of any G7 country.
The Green Finance Institute
This has been set up to support the delivery of the strategy and drive green finance in the UK and abroad.
They have split the strategy into 3 main areas to achieve the main objectives.
Greening Finance. Ensuring financial risks and opportunities from climate factors are integrated into financial decision making and that markers for green financial products are robust. Climate risks is separated into physical risk and transition risk. The former is about the financial performance of organisations due to changes in water availability, food security, extreme temperature changes. The latter is about the transition to low carbon and how it will mean extensive policy and market changes.
They aim to partner with the private sector to drive the pgase out of coal power and develop sustainable supply chains.
Financing Green. Accelerating finance to support the delivery of the UK's targets and clean growth as well as international goals.
Since 2010 there has been more than £92 billion invested in clean energy in the UK. The Green Investment Bank committed £3.4 billion to 100 projects with a total value of over £12 billion. The transition to a clean and resilient economy will expand the opportunity for green finance investments.
They are looking at improving access for green investment and address the market barriers to renewables.
The government will announce a package of measures to mobilise green finance for home energy efficiency, determine how landlords and businesses can understand and disclose operational energy use
Capturing the Opportunity. Ensuring financial services capture commercial opportunities arising from the greening of finance such as climate related data and from new green financial products and services.
It aims to allow the UK to become the global hub for green finance. This would include ensuring the aid budget supports green investment in the developing world.
https://www.gov.uk/government/speeches/john-glen-speaks-at-the-green-finance-summit
Publicly listed companies and large asset owners will be expected to disclose how climate change risk impacts their activities by 2022. To do this there will be work with regulators to discuss whether mandatory disclosures are necessary.
https://www.gov.uk/government/news/city-must-lead-the-way-in-securing-a-greener-future
Barclays Green Home Mortgages. You can apply if you are buying an energy efficient new build property from one of their partner house builders. If the home you want has an energy efficiency above 81 or is in efficiency bands A or B you could get lower rates on certain fixed rate mortgages. (Barclays Home). They do want to extend the offering to houses purchased with all major house builders by the end of the year.
https://www.moneyexpert.com/mortgages/barclays-offering-new-green-home-mortgage/