FLA comments on COP28

Commenting on the opening day of COP28, Stephen Haddrill, Director General of the Finance & Leasing Association (FLA), said: 

“As nations gather in Dubai to set the global response to climate change, the actual changes required will be made at an individual level – in homes, workplaces, transport and utility choices. 

“All of this relies on the availability of finance, but the risk of funding green investment is significant. 

“New technology is an unknown quantity in terms of its performance, longevity and obsolescence. The points we continue to make to Government are that a sharing of risk will be required to keep the price of funding competitive and within the reach of customers, and consistent policy is vital. It must not backslide on its commitments.” 

Note to editors: 

1. In 2022, members of the Finance & Leasing Association provided £148 billion of new finance to UK businesses, households and the public sector.  
2. Of this total, £55 billion was provided by non-bank lenders. £34 billion was provided in the form of asset finance to businesses - £22 billion of which went to SMEs to fund new equipment, plant and machinery, or purchased software. £115 billion was provided in the form of consumer credit, which includes £50 billion of motor finance supporting the purchase of 84% of all private new car registrations.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.