Why Leeds 'could not be better placed' to host new green finance headquarters

The UK Centre for Greening Finance and Investment will start in April, with physical hubs in Leeds and London opening months later, led by a partnership with institutions including the universities of Oxford and Leeds.

The hubs will provide data and analytics to banks, lenders and investors to help them make better investment and business decisions, factoring in the impact on the environment and climate change.

Energy Minister Anne-Marie Trevelyan Trevelyan said as one of the biggest financial sectors in the UK, Leeds has the “clout to influence industries and markets around the world”.

The centre will help divert investment away from “unsustainable activities” such as deforestation and fossil fuels, and towards low carbon sectors, boosting green jobs, the Government said.

It will provide banks with the latest environmental and scientific intelligence to help companies of all sizes gear up for the risks posed by climate change.

Ms Trevelyan said: “Leeds is one of the biggest financial sectors in the UK, with the clout to influence industries and markets around the world – including leading the charge to tackle climate change.

"Home to major banks and investment companies, the city could not be better placed to seize the exciting opportunities that will arise from the new UK Centre for Greening Finance and Investment.

“Leeds is one of the biggest financial sectors in the UK, with the clout to influence industries and markets around the world – including leading the charge to tackle climate change. Home to major banks and investment companies, the city could not be better placed to seize the exciting opportunities that will arise from the new UK Centre for Greening Finance and Investment.

“Working in partnership with the University of Leeds, this centre will ensure the UK’s climate and the world’s health are at the heart of financial decision-making. It will also make certain that the UK’s private capital is equipped and mobilised to play its vital role in eliminating our contribution to carbon emissions and building back greener.

“The UK is leading the world in a green industrial revolution and we are powering forward with putting the Prime Minister’s ambitious 10 Point Plan into action.

"The pioneering finance hub will support our commitments by driving cutting-edge technologies and providing the transformative climate and environmental data needed to fulfil our energy ambitions and climate targets – putting Leeds firmly on the world map at the heart of green investment.”

Officials say the new centre will equip banks with the latest environmental and scientific intelligence to help companies of all sizes, including start-ups as well as being able to anticipate, adapt and gear up for the risks posed by climate change.

This research will also help create new world-leading products and services that tackle climate change, such as technologies that measure severe storms and flood risks for property investors and tools that can improve data on industrial pollution linked to investment portfolios.

It is hoped this will unlock new opportunities for Britain to lead internationally in greening global finance, positioning Leeds and London as global centres for green finance while also protecting the UK economy and society from climate and environmental risks.

In November Boris Johnson set out a 10-point plan to help eradicate the UK’s contribution to climate change by 2050. But environmentalists said that of £12bn announced, just £4bn was new government money.