This London Climate Action Week, all eyes are on those stepping into the heart of the UK to accelerate the global fight against climate change. But what will it take to catalyse the decade of action we need to meet the commitments of the Paris Agreement?
We know that one of the biggest carbon emitters today is the built environment, contributing nearly 40% of global greenhouse gases. Yet rapid urbanisation demands we build 96,000 new homes every day until 2030. It’s clear this sector needs a sustainable overhaul and a sizable injection of cash.
The level of investment necessary, however, is critically constrained by a lack of confidence in the green affordable homes market – despite its potential to catalyse economic growth, gender inclusion and climate mitigation.
Green Affordable Housing Finance – developed by innovators and investors, Reall and endorsed by the Global Innovation Lab for Climate Finance – is a financial instrument that has been uniquely designed to revolutionise how we finance and build green homes in emerging markets. The high-impact design champions a gender-equitable and resilience-boosting model that contributes to eight SDGs and will mobilise 400 million in private capital.
It’s core innovation lies in its ability to unlock in-country finance for both construction and offtake of green affordable housing; a solution that’s poised for pilot in Kenya and equipped for expansion across African and Asian markets.
The mechanism is underpinned by a Guarantee Facility and supporting Enabling Environment Facility (EEF) that work together to:
Build supply of green affordable homes
Increase access to housing finance
By boosting the confidence of lenders and developers, the instrument fosters a self-sustaining ecosystem and normalises local construction and mortgage lending for green affordable homes.
Get in touch with Lucy at [email protected] to take part.
Reall is an innovator and investor in green affordable homes in urban Africa and Asia. With over 30 years’ experience working in emerging markets, Reall have invested over $72 million and impacted over 3.5 million people. Visit reall.net to find out more.
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