Green Finance Institute expands to Denmark and Spain to accelerate green transition

by  | Sep 27, 2023

 

 

27 September 2023, London: The Green Finance Institute (GFI), supported by funding from the Laudes Foundation, has expanded its presence to Denmark and Spain with the appointment of two green finance experts, Signe Fosgaard and Eduardo Brunet.

Globally, the operation and construction of buildings accounts for around 37% of CO2 emissions , so decarbonising the built environment is vital to achieving net-zero. Across Europe, the GFI in Denmark, Spain and the UK will collaborate to share key learnings and expertise to tailor financial solutions to local markets, remove barriers to investment, and channel more capital into greening buildings.

The GFI aims to unlock capital at the pace and scale required to increase deep renovation rates in specific European Member States, tackling the annual EUR275 billion building renovation gap and achieving the ambitions of the European Green Deal.

About GFI Spain

In Spain, the GFI is focused on increasing the flow of private finance to decarbonise the economy with an initial focus on the built environment. The GFI is currently leading the finance work stream of the citiES 2030 programme – comprising eight Spanish cities – Barcelona, Madrid, Soria, Seville, Valencia, Valladolid, Vitoria-Gasteiz and Zaragoza – as part of the EU’s mission to deliver 112 climate neutral and smart cities by 2030 through involving local authorities, citizens, businesses, investors and regional and national authorities.

The GFI is also working to build upon the success of its ‘Lender’s Handbook on Green Home Retrofit and Technologies’ and adapting this for the Spanish market to provide a vital resource for financial institutions looking to increase their awareness of the financial products and services which will facilitate the roll out of net-zero ready buildings.

About GFI Denmark

In Denmark, the GFI has partnered with the World Climate Foundation to work with investors and the wider Danish real estate sector to design, operationalise, and bring to market financial mechanisms for de-risking and scaling up green real estate investment, initially in Denmark, but with the potential to scale into Nordic and other European countries.

Testimonials

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“Collaboration has been key to our success at the Green Finance Institute. Our expansion into Europe builds on our work to-date, by fostering new partnerships as we seek to learn from and share best practice. Our aim is to scale successful solutions that will channel capital towards decarbonising our economies at the pace demanded by the science. With buildings in the EU responsible for 36% of greenhouse gas emissions, our initial focus will be on overcoming the barriers to investment in renovation upgrades by developing the innovative financial solutions and the enabling conditions to make buildings greener.”

Dr Rhian Mari-Thomas OBE

CEO, The Green Finance Institute

“The Green Finance Institute in Europe will work to catalyse investment at the pace and scale required to achieve a green and just transition. We’re delighted to have hired two green finance and real estate experts in Denmark and Spain with an initial focus on decarbonising the built environment at a regional, national and European level.”

James Hooton

Managing Director, The Green Finance Institute Europe

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“We cannot stay in line with the 2015 Paris Agreement if we do not reduce emissions in the built environment. Property owners need innovative new products to help incentivise transition of their real estate assets. Laudes Foundation works with the Green Finance Institute because they are specialists at developing innovative new concepts to shift markets, such as Property Linked Finance in the UK, which can drive decarbonisation at scale.”

Amol Mehra

Director of Industry Programmes, Laudes Foundation

“To ensure the entire building stock is carbon neutral by 2050, we need to make energy efficiency upgrades to more than 300,000 homes per year which will require radical collaboration between public and private sector to mobilise the capital required. The GFI in Spain will work with market participants to seize the opportunities offered by the green transition.”

Eduardo Brunet

Director, The Green Finance Institute Spain

“In a context where sustainable investment has become vitally important, organisations such as the GFI have a key role to play. In Spain, a partnership with GFI represents an excellent opportunity to make further progress towards a decarbonised economy through a comprehensive sustainable finance strategy.”

Juan Carlos Delrieu

Director of Strategy and Sustainability, Spanish Banking Association

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“There is a real willingness among financial institutions in Denmark to play a key role in the green transition, and the GFI will work with them and other stakeholders to develop, implement and scale innovative green finance mechanisms and remove barriers to investment to deliver change at the pace and scale that is needed. With construction and use of buildings responsible for 40 percent of Denmark’s overall energy consumption and 30 percent of CO2 emissions , decarbonising the built environment will be vital to achieve net zero.”

Signe Fosgaard

Director, The Green Finance Institute Denmark

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“The success of any climate or nature-positive action hinges on collaboration, coordination, and enhanced access to finance and technology; this typically requires capable platforms and convenings to act as bridges between corporations, sectors, governments, and funders. Our partnership with the Green Finance Institute is an example of the collaborative solutions that are vital to help us reach short-term climate targets and build a greener and safer future.”

Jens Nielsen

CEO and Founder, World Climate Foundation

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