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UK government spends £10 million to create green finance hubs in Leeds and London

Leeds and London will be home to a new UK centre for driving global green finance and investment, thanks to £10 million in government investment.

The research hubs in the two cities – led by a partnership with a number of UK institutions including University of Oxford, the University of Leeds and Imperial College London – will provide data and analytics to financial institutions to support their investment and business decisions by considering the impact on the environment and climate change.

The research will be aimed at developing 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.

The Bank of England’s executive sponsor for work on climate change Sarah Breeden welcomed the initiative: “Integrating climate and environmental data and analytics into decision making will allow financial institutions to identify, measure and manage the financial risks and opportunities from climate change, and so support the Bank’s objective to ensure the financial system is resilient to these risks and supportive of the transition to net zero.”