2 July 2019 the City of London’s flagship annual Green Finance Summit brought together industry experts, policymakers, leading voices and the brightest minds in green finance with an agenda focusing on investing, accelerating and delivering on green finance commitments.
On the same day the Department for Business, Energy and Industrial Strategy and Her Majesty’s Treasury published the Green Finance Strategy alongside the launch of the Green Finance Institute. The Strategy sets out our green finance objectives and ambitions and will also form the government’s response to the Green Finance Taskforce, which published its report last year.
This followed the announcement on 1 July by the government of a £5 million fund to help the financial sector develop green home finance products, like green mortgages. Green mortgages give customers discounted mortgage rates once they have upgraded the energy rating of their home.
The government also announced it would offer industry the chance to win a share of a £10 million innovation fund if companies design innovative ways of reducing the cost of retrofitting the UK’s old housing stock. This could include assembling parts of buildings like pre-fabricated roofs or facades off-site and quickly fitting them to homes, minimising disruption for homeowners.
All this took part during London Climate Action Week (1-7- July 2019).