The Green Finance Institute has launched the Coalition for the Decarbonisation of Road Transport, bringing together financial, automotive, energy and infrastructure sectors to accelerate the transition to zero emission vehicles.

Analysis undertaken by the Green Finance Institute, with support from KPMG’s Future Mobility Team, estimates that more than £150bn of gross capital investment may be required to decarbonise the UK road transport sector between 2021 and 2030, requiring a significant acceleration in the rate of investment into zero-carbon transport solutions.

The Coalition’s mandate is to unlock the level of private finance necessary for transport decarbonisation to happen at pace and at scale, co-creating financing solutions required to support the transition to zero emission vehicles.

The Coalition for the Decarbonisation of Road Transport will focus on developing finance solutions initially in three core areas: Consumer finance and leasing, EV charging infrastructure and the commercialisation of battery technology.

Founding members of the Coalition include: the Energy Savings Trust (EST), Finance & Leasing Association (FLA), Lloyds Banking Group, Lombard Odier, Octopus Electric Vehicles, Renewable Energy Association (REA), Shoosmiths, Transport for London (TfL), Triodos Bank and Uber.

The Government is set to publish its Transport Decarbonisation Plan this Spring in the run up to the COP26, and last year established the Zero Emission Vehicle Transition Council, bringing together ministers and governments representing some of the world’s biggest car markets.

The CDRT is the second sector-expert coalition created by the Green Finance Institute to deliver practical solutions at scale in climate-critical sectors. In December 2019, the GFI established the Coalition for the Energy Efficiency of Buildings, focused on removing investment barriers to the widescale decarbonisation of domestic heating.

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