FLA joins GFI's Green Home Finance Strategic Partnership

The Finance and Leasing Association (FLA) has joined the Green Finance Institute’s (GFI) Green Home Finance Strategic Partnership, supporting the UK Government’s Warm Homes Plan and efforts to scale access to affordable green home finance.

The Strategic Partnership, established by the Department for Energy Security & Net Zero (DESNZ) in collaboration with the Green Finance Institute, aims to mobilise billions of pounds in private capital to help households upgrade their homes when and how they choose. The initiative is designed to accelerate the growth of the UK’s green home finance market and underpin a universal home upgrade offer.

Shanika Amarasekara, Chief Executive Officer of the FLA, said: “The FLA welcomes this Strategic Partnership with GFI and our role on its panel.

“It supports shared priorities on innovation, growth, and delivery of the Warm Homes Plan. I look forward to joining the Steering Group which will bring together differing pools of expertise, including access to finance, to ensure that the green proposition is compelling for households.

“The FLA is committed to work together with industry and government to decarbonise.”

The Partnership is co-chaired by Martin McCluskey, Minister for Energy Consumers at DESNZ, and Rhian-Mari Thomas, Chief Executive Officer of the Green Finance Institute, with support from the Secretary of State. A cross-sector Steering Group will bring together financial institutions, consumer groups, energy organisations and government to develop practical solutions and scale green finance innovation.

Martin McCluskey said: “Our Warm Homes Plan will deliver upgrades and lower energy bills for up to five million homes across the country.

“To do this we will work with industry to make it easier for everyone to access a wide range of financing options that will make heat pumps and solar panels more affordable.

“Forming this Strategic Partnership with some of the biggest names in finance, research and innovation, and consumer protection will ensure the financing and support is there to upgrade the nation’s homes and drive down bills for good.”

With the Committee on Climate Change estimating that £373 billion is required to decarbonise the UK’s built environment by 2050, the Partnership will focus on expanding and diversifying financial options for homeowners. It will work towards creating a mass market for green home finance by 2030, enabling households to access funding for measures such as solar panels, heat pumps and energy efficiency upgrades, helping to reduce bills, improve comfort and support the transition to low-carbon homes.