Changeworks’ Head of Consultancy Ian Cochran has joined a consortium of market practitioners, experts and academics to outline policies the new UK Government should prioritise in its first six months to address climate change and transform the UK into a net zero finance hub.
Their book – Accelerating Transition: Climate finance policies to prioritise in the first 100 days – is a joint venture between Kings College, London, and the University of Edinburgh Business School where Ian lectures in climate finance and investment.
Ian’s entry – What if we already had a financial toolkit to decarbonise Britain’s buildings? – argues that the financial challenges faced by the likes of local authorities, housing associations and social landlords to dercarbonise can be bridged if we make full use of the tools already available.
Instead of political posturing from all sides to fit within their own ‘ideological’ lines, Ian’s submission challenges the UK and devolved Governments to look at all solutions to find those that fit for the purpose of each decarbonisation challenge. Options should include market-led solutions to scale private investment, but also public finance approaches successful in other sectors and countries including targeted grant funding and below-market cost debt and equity.
Commenting on the book’s publication, Ian said: “The decarbonisation challenge in the building sector is significant, but also offers opportunities for job creation, reskilling and improvements in the country’s building stock that can deliver both carbon savings as well as improved health and wellbeing outcomes
“The debate on which tools are fit for purpose has too often been dominated by ideology rather than pragmatism. Both public and private capital will be essential to reach the scale of investment needed. We now need to move forward with those solutions that have already demonstrated they can deliver.”
The collection of short articles features nearly 40 thought-leaders from both institutions and further afield, including Bankers for Net Zero, PwC and the World Business Council for Sustainable Development. Recommendations include higher rates of capital gains tax for high-carbon emitters and polluters, and simplified planning and approval processes for green energy infrastructure.
Read Ian’s thoughts in the book Accelerating Transition: Climate finance policies to prioritise in the first 100 days.