E3G is proud to announce its role as the secretariat for the Coalition for the Energy Efficiency of Buildings (CEEB), launched today. Established by the Green Finance Institute, the Coalition aims to develop the market for financing net-zero carbon and climate-resilient buildings in the UK by accelerating the pace of financial innovation and scale-up.
Comprised of global experts from financial services, local and national government, energy and construction industries, academia and civil society, the CEEB will collaborate under the chairmanship of Dr Rhian-Mari Thomas OBE, chief executive, Green Finance Institute. Speaking at the COP25 climate change conference in Madrid this week, Dr Thomas said:
"Financial markets need to play a leading role to meet the needs of our society, and to mobilise capital to address the climate emergency. The Green Finance Institute’s role is to convene innovators, sector specialists and policymakers to harness their creativity to identify and overcome the barriers to the deployment of green funding.
"The Coalition for the Energy Efficiency of Buildings brings together a breadth of experience behind a clear goal: to accelerate capital flows towards retrofitting and developing UK homes to net-zero carbon, resilient standards through the development of real-world finance solutions that appeal to home-owners, landlords and investors."
Nick Mabey, E3G's CEO said:
"E3G is delighted to be providing the secretariat for the Green Finance Institute’s Coalition for the Energy Efficiency of Buildings. The Coalition’s members are focused on practical action: bringing to launch demonstrators of finance for energy efficient home renovations that are scalable and can start to lever in the capital flows necessary to decarbonise the UK’s ageing housing stock.
"We hope the Coalition’s leadership will inspire government to set the long-term market signals that ensure energy efficient housing retrofit – and the financial products and services it needs – can be deployed at a pace, scale and depth that matches the climate emergency."
This is the first Coalition bringing together dynamic private, public and third-sector organisations to focus on launching a series of scalable demonstration projects of financial products and solutions. These will aim to deploy capital to address specific challenges that limit the uptake of energy-efficiency measures in the residential building market in the UK.
Over the next 12 months, the CEEB will design, develop and launch a portfolio of scalable demonstrators of new financial solutions that unlock investment into the low-carbon and resilient building sectors. To ensure the demonstrators appeal across all residential building tenures, the CEEB will conduct a comprehensive review of the UK residential retrofit market identifying the barriers to widescale upgrading of existing housing stock.
The outcomes and recommendations of the Coalition for the Energy Efficiency of Buildings’ market review will be published in Spring 2020, while the portfolio of pilot ‘demonstrator’ projects will be presented at the 2020 UN Climate Change Conference (UNFCCC COP26) in Glasgow. In recognition that efforts to decarbonise buildings are global, the Coalition will also work with international partners to adopt and share best practices.
About the Green Finance Institute
The Green Finance Institute is an independent, commercially focused organisation, supported by HM Treasury, the Department for Business, Energy and Industrial Strategy and the City of London Corporation. As the UK’s principal forum for public and private sector collaboration in green finance, it is uniquely placed to mobilise capital to accelerate the domestic and international transition to a sustainable, net-zero carbon economy that is also climate resilient. The Green Finance Institute convenes and leads mission-led coalitions to identify and unlock barriers to deploy capital at pace and scale towards impactful, real-economy outcomes. For more information visit greenfinanceinstitute.co.uk and follow @gfi_green.
About the Coalition
The Coalition for the Energy Efficiency of Buildings (CEEB) aims to develop the market for financing net-zero carbon, resilient buildings in the UK by accelerating the pace of financial innovation and mobilising capital towards the retrofit and development of a climate-resilient housing stock. The Coalition will deliver multiple real-world outcomes, including a portfolio of financial demonstration projects and a report on the segmental market review.
Coalition for the Energy Efficiency of Buildings Members
- Department for Business, Energy & Industrial Strategy (BEIS)
- BNP Paribas
- Building Society Association (BSA)
- Carbon Trust
- CMS Law
- E3G (Secretariat)
- Ecology Building Society
- Energiesprong UK
- Energy Efficiency Infrastructure Group (EEIG)
- Energy Systems Catapult
- Eversheds Sutherland
- Green Deal Finance Company
- Green Finance Institute (Chair)
- Leeds City Council
- Legal & General
- Loan Markets Association (LMA)
- Ministry of Housing, Communities and Local Governments (MHCLG)
- Monmouthshire Building Society
- Nottingham City Homes
- Phoenix Group
- Reading University
- Residential Landlords Association
- Sero Homes
- Transport for London (TfL)
- UK Finance
- UK Green Building Council (UKGBC)
- UK Regulated Covered Bond Council
- Welsh Government