Green Finance Institute expands to Denmark and Spain to accelerate green transition
by Green Finance Institute | 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.
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.
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.