The Finance & Leasing Association (FLA) has launched its ‘Green Manifesto’, which highlights net zero’s potential as a catalyst for growth.
Preparations for net zero in 2050 will affect every person, home, business and public service and will require a supply of willing-to-lend lenders, matched by demand from customers.
The Green Manifesto aims to address both by identifying the perfect conditions and creating economic growth.
The conditions outlined in the manifesto include consistent Government policies so that the finance industry has the confidence to invest in funding change, and the growth of the EV infrastructure to make electric vehicles an easy and intuitive choice.
In addition, the manifesto called for Government risk sharing to keep the cost of green finance for business investment, motor purchases and home improvements within reach for the vast majority of business and retail customers.
Stephen Haddrill, director general of the FLA, said: “Political commitment to Net Zero preparations cannot wax and wane with the seasons.
“Unwinding centuries of reliance on fossil fuels within the next 25 years will require consistency of approach to build confidence among consumers and lenders.
“The 2050 deadline is looming large, and doing too little now will leave too much to do later.
“The UK needs a smooth transition, with adequate and affordable funding available for each customer replacing old technology with new green options.
“That’s what will drive growth in the economy and help us achieve net zero by 2050.”
