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Partnership to help schools finance net zero measures
EB News: 27/08/2024 - 10:10
A new partnership from The Green Finance Institute (GFI) with charity Ashden will unlock new financial solutions to help schools meet net zero targets.
Ashden, which runs the Let’s Go Zero campaign, is a leading climate solutions charity that aims at accelerating transformative climate solutions in the UK, with a particular focus on sustainable energy and development.
The Let’s Go Zero ‘Innovative Finance Project’, bringing together public and private finance, policy makers and supply chain delivery partners, will unite key decision-makers to identify innovative financial solutions to mobilise capital towards the retrofit of school estates. The initiative aims to accelerate the transition to zero-carbon school environments.
Education buildings in the UK represent a substantial portion of the nation's greenhouse gas emissions, contributing 37% of total public sector building emissions. According to the Department for Education (DfE), the energy expenditure associated with these buildings amounted to £1.8 billion in 2023.[1]
During this year-long partnership, the GFI and Ashden will co-design financial solutions to support the decarbonisation of schools, informed by detailed analysis of the current barriers to investment and widespread market engagement.
Miles Ashton, Local Green Investment Lead at the GFI, said: “The importance of decarbonising the UK’s school environments to meet national net zero targets cannot be overstated. By financing the energy efficiency of school estates up and down the country, we can reach our net zero goals, reduce energy expenditure for the public sector, and unlock billions in energy efficiency projects, harnessing the opportunity to create a better learning environment for future generations.”
Dr Donal Brown, Director of UK Programmes at Ashden, said: “We are delighted to launch this partnership with the GFI at a pivotal moment for the UK’s net zero story. Schools have the potential to be the beacons of what is possible, leading the zero-carbon charge in our communities. However, the current funding allocation lags well behind what is needed. The GFI are the leading thinkers on how this financing challenge can be overcome, and we are confident that this partnership gets us closer to real and scalable financing solutions for decarbonising the schools’ estate.”
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