A new Coalition for the Decarbonisation of Road Transport will bring together global experts in a bid to unlock private finance and accelerate the transition to zero-emission vehicles.
Analysis conducted by the Green Finance Institute has revealed that an estimated £150bn of gross capital investment may be required to decarbonise the UK road transport sector by 2030.
To help unlock this finance, the coalition will focus on developing finance solutions in three key areas:
Dr Rhian-Mari Thomas, chief executive of the Green Finance Institute, said, ‘The Green Finance Institute has already demonstrated the impact of bringing together experts to co-design innovative financial solutions and promote the enabling conditions needed to channel capital towards net-zero goals.
‘Identifying the most effective interventions and public investments in order to catalyse private sector finance requires thorough, detailed analysis as well as creativity and ingenuity. We’re excited to be working with KPMG and our founding coalition members to tackle the challenge of financing the decarbonisation of road transport.’
UK Transport Minister, Rachel Maclean, added: ‘As we accelerate towards a net-zero future, I’m delighted that government and industry are coming together to encourage more people to make the switch to zero-emission vehicles.’
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