Submitted by H. Hutton on Fri, 13/10/2017 - 08:53
13 October 2017 – The University of Cambridge Institute for Sustainability Leadership welcomes the launch of the UK government’s Clean Growth Strategy as a step in the right direction towards scaling up the finance models needed in the transition to a low carbon economy.
One of the key policies outlined in the Clean Growth Strategy recognises the importance of accelerating clean growth through sustainable finance, acknowledging the Green Finance Task Force’s position to “provide recommendations on the public and private investment needed to meet our carbon budgets and maximise the UK’s share of the global green finance market”. CISL is a member of the Green Finance Task Force, represented by Dr Paul Fisher, CISL Senior Associate and Vice Chair of the Banking Environment Initiative.
Dr Paul Fisher said:
“CISL welcomes the strategy, which commits to new levels of investment towards sustainable, low carbon growth. Developing new and ambitious funding models is a critical step towards financing the growing low carbon economy. The focus now must be to scale up, while also ensuring that the finance industry has the right tools to incorporate the transition risk into their financing operations.”
The strategy sets out how over £2.5 billion will be invested by the government to support low carbon innovation from 2015 to 2021, including allocations towards business and industry efficiency, carbon capture and storage, low carbon transport, agriculture, and funding to support low carbon innovation.
