City Minister promotes Green infrastructure and investment

City Minister John Glen has said that financial services must facilitate green infrastructure investment to meet eco targets.

The minister launched the government’s Green Finance Strategy to drive investment towards green infrastructure and environmental projects at an event in London. He spoke about financial services and the City having a large role to play in tackling climate change.

The Green Finance Strategy aims to make London a central area for environmentally-friendly investment and help reach the goal of zero carbon emissions by 2020. This includes companies being required to disclose the environmental impact of all their activities by next year.

John Glen said: “The UK has a long history of leading the way in tackling climate change, but we need to do more to protect our planet for future generations.”

“The City has a vital role to play in securing a greener future for us all. By investing more in sustainable projects it can not only protect our environment, but also help establish London as the pre-eminent international centre for green finance.”

“Today’s Green Finance Strategy will support this ambition, with new initiatives to boost funding for green ventures and ensure the environment is at the centre of all financial decision-making.”

At the same event, the Green Home Finance Fund was announced, a £5M fund which will pilot green mortgages and energy efficiency investment. It also incentivises retrofitting properties for energy efficiency.

A large part of the government’s climate strategy includes phasing out coal-generated electricity in the UK as well as internationally through the UN. UK aid spending will also have to comply with the conditions of the Paris agreement to ensure international growth helps to tackle the effects of climate change.

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