24 June 2022
1. The Finance & Leasing Association (FLA) is the leading trade body for the UK asset, consumer and motor finance providers of leasing and hire purchase. Many of the FLA’s members are funding net zero assets or net zero energy.
2. We welcome the opportunity to respond to the Government’s green finance strategy call for evidence. We have provided our response to the questions relevant to our members and the sectors they operate in.
3. The approach we have taken in our responses is to consider how the Government’s strategy can assist our members in financing all types of assets: cars, HGVs, buses, coach, and other green technologies such as renewable energy, storage & batteries and building infrastructure such as LED lighting.
4. While the focus of the Government’s strategy is rightly on financing green, it is important to remember that non-green assets will continue to require funding over the next decade. At some stage during this period the move to green assets may lead to lenders having no secondary market for traditional equipment. We urge the Government to begin discussing this challenge with funders and industry to ensure we are not faced with stranded assets.
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