Leeds and London are set to establish a new UK centre dedicated to promoting global green finance and investment, backed by a £10 million government investment.
The research hubs, formed through collaborations with esteemed UK institutions such as the University of Oxford, the University of Leeds, and Imperial College London, will equip financial organizations with essential data and analytics to enhance their investment strategies while considering environmental impacts and climate change.
The initiative aims to create innovative products and services that address climate challenges. This includes technologies designed to assess severe weather events and flood risks for property investors, as well as tools that enhance data regarding industrial pollution in relation to investment portfolios.
Sarah Breeden, the Bank of England’s executive sponsor for climate change initiatives, expressed her support for the project: “Incorporating climate and environmental data into decision-making processes will empower financial institutions to identify, assess, and manage the financial risks and opportunities presented by climate change. This aligns with the Bank’s goal of fostering a resilient financial system that supports the transition to net zero.”