LONDON (Pakistan Point News / Sputnik - 15th February, 2021) The UK government announced on Monday that it will allocate 10 million Pounds ($14 million) to set up global centers of green finance in London and Leeds.
"The new UK Centre for Greening Finance and Investment will begin in April 2021, with physical hubs in Leeds and London opening a matter of months later led by a partnership with a number of UK institutions including University of Oxford, the University of Leeds and Imperial College London," the department for business, energy and industrial strategy said.
According to the press release, the hubs will offer "world-class data and analytics" to help banks, lenders, investors and insurers from across the world in their investment and business decisions by assessing the impact on the environment and climate change.
The center will, in particular, provide the latest environmental and scientific data to various businesses "anticipate, adapt and gear up for the risks posed by climate change."
"This pioneering research will also help create new world-leading products and services that tackle climate change, such as cutting-edge 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 department added.
In January, the UK announced that it will spend at least 3 billion pounds of its international climate finance on nature and biodiversity over five years. The country has also committed itself to a 68 percent cut in greenhouse gas emissions by 2030 compared to 1990 levels.
