Tag Archives: Green Finance

Mayor renews efforts to mobilise green investment for London

Posted on December 11, 2020 by Admin

11 December 2020: A number of announcements made in this Mayor of London press release issued today:

  • Public sector finances alone will not mobilise the investment required to make London zero carbon and help a green recovery. Sadiq has commissioned the Green Finance Institute (GFI) to explore opportunities to maximise the flow of private capital into London’s environmental priorities. This includes the capital investment required to upgrade London’s buildings, transport and energy networks to net zero emissions. The Green Finance Institute will publish their recommendations to the Mayor in early 2021.
  • Further funding for MEEF (the Mayor’s Energy Efficiency Fund). MEEF, managed by Amber Infrastructure Group, has mobilised over £250 million of public and private capital enabling projects including heat networks and electric vehicle charging infrastructure. Today the Mayor committed a further £8.2m of ERDF which will leverage further finance and further deliver on his ambitions for London. MEEF built on the previous London Energy Efficiency Fund (LEEF) – case studies of projects supported under LEEF can be seen here. Recent MEEF loans can be seen here.

The GFI work commissioned by the Mayor builds on the work undertaken by the London Sustainable Development Commission (LSDC) Green Finance working group (of which I am member of) , the output of which was published in a report ‘Financing London’s Future‘ launched at an event at London Guildhall earlier this year (see press release here). Further information on the GFI-commissioned study here.

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City of London Wants to Clean Up the World

Posted on November 21, 2020 by Admin

20 November 2020: With reference to the Prime Minister’s 10 Point Plan announcement earlier this week – which included a goal to make the “City of London the global centre of green finance” a Bloomberg Opinion piece on how Britain is aiming to be a hub for carbon credit and green derivatives trading. “London… has a history in cutting-edge finance, a deep talent pool and a strong lead in the trillion-dollar swaps market. It’s a logical place to base the trading of carbon credits, and the derivative-like contracts that companies’ would want to tailor for their individual needs, were the worldwide carbon credit market to take off.” Read the full article here.

Unfortunately, it’s far from certain that it will.

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Haringey Pension Fund invests in Low Carbon Emerging Equity Fund

Posted on October 1, 2019 by Admin

1 October 2019: The London Borough of Haringey Pension Fund is to be the seed investor in a MSCI Emerging Markets Low Carbon Target Index Fund managed by Legal & General Investment Management (LGIM), following investment advice from Mercer. This low carbon fund aims to reduce exposure to carbon emissions of these investments by an estimated 73% compared to the fund’s previous emerging market investments. Read the full press release here.

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