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Bristol part of new £10 million research centre to spur a greener global financial system
The UK is investing £10 million in a new national green finance research centre that will advise lenders, investors and insurers, enabling them to make environmentally sustainable decisions, and support a greener global economy.
Access to scientifically robust data and analytics is currently patchy and unreliable. Armed with better information, underpinned by innovative UK science, financial institutions around the world will be much better placed to make decisions that contribute to a more sustainable planet.
This will help financial institutions shift money away from risky activities that harm the environment, such as coal-fired power and deforestation, and towards activities that are less harmful, such as renewable power and sustainable agriculture.
By Susanna Rust2021-02-15T15:30:00+00:00
A new centre is being launched in the UK with the aim of arming financial institutions with the data and analytics they need to contribute to the shift to environmentally sustainable economic activity. Asset owners have been keen to support the project.
Dubbed the UK Centre for Greening Finance and Investment (CGFI), the new institution will begin work in April, with physical research hubs in Leeds and London to open shortly thereafter. The centre is being financed by a £10m government investment.
According to a government announcement, CGFI has been established to accelerate the adoption and use of “world-class” climate and environmental data and analytics by financial institutions. A key focus of the work will be on enhancing the quality and availability of inputs for data providers to improve their products and services.
UK launches £10m research centre to spur greener global financial system
The CGFI will held financial institutions shift money away from activities that harm the environment
The UK is investing £10m in a national green finance research centre that will advise lenders, investors and insurers, enabling them to make environmentally sustainable decisions, and support a greener global economy.
The UK Centre for Greening Finance and Investment (CGFI) will be funded by UK Research and Innovation (UKRI) and led by the University of Oxford.
The launch comes in a bid to help financial institutions shift money away from risky activities that harm the environment and move towards activities that are less harmful. It will do this by improving access to scientifically robust data and analytics, helping financial institutions make decisions that contribute to a more sustainable planet.
Leeds and London set to become global centres of green finance
Britain leads research initiative to put climate and environment at the heart of UK financial decision making.
From:
15 February 2021
£10 million UK government investment for new world-class green finance research hubs based in Leeds and London
banks, lenders and insurers encouraged to invest in clean innovations and green technologies from renewable power to sustainable agriculture
encouraging private investment in green projects will drive growth across the economy and support new jobs as the UK builds back greener from the pandemic
Leeds and London will be home to a new UK centre for driving global green finance and investment, Energy Minister Anne-Marie Trevelyan announced today (Monday 15 February), thanks to £10 million in government investment.