Government invests £10m to create Leeds and London green finance hubs
The government has today announced that two UK cities will host new green finance hubs after £10m of investment.
Leeds and London will each be home to sites for the new UK Centre for Greening Finance and Investment, which will provide data to financial institutions and services to support eco-friendly business decisions.
The UK Centre for Greening Finance and Investment will begin operations in April this year, with the physical hubs opening later in the year.
The government is investing £10m in this new department, which is expected to attract green finance talent from around the world.
Anne-Marie Trevelyan, energy and clean growth minister, commented: “Climate change is the biggest issue that we need to tackle to protect our planet for our children and grandchildren.
“While the government has invested billions of pounds so we can end the UK’s contribution to climate change, we will not reach our net zero target without mobilising private capital and unleashing the power of the free market.
“The UK Centre for Greening Finance and Investment in London and Leeds will encourage financial services to turn the tide of their investments and focus on sectors and companies that have a smaller environmental footprint.
“Doing so will support industries and businesses to develop clean green innovations, creating thousands of jobs across the country – ensuring we build back greener.”
John Glen, economic secretary to the treasury and city minister, said: “We’ve set the ambition for net zero – now we must ensure our financial sector has the tools and information to get behind the transition.
“We’re already improving the climate data available by mandating TCFD-aligned disclosures across the economy and implementing a green taxonomy.
“This new centre will advance the UK’s leadership in green finance and bring forward the day when firms can access environmental data and analytics for every place on Earth, past, present and future.”
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