GFI and Ashden Launch £10 Million Initiative to Finance Efficiency Upgrades for Schools

Image Credit: Ashden

In a groundbreaking initiative aimed at slashing energy costs and fostering investment in energy efficiency, the Green Finance Institute (GFI) has unveiled a strategic partnership with climate solutions charity Ashden. This year-long collaboration is set to propel retrofit and energy efficiency upgrades across UK schools while striving to meet the ambitious goal of net zero emissions by 2030.

The initiative is designed to consolidate public and private financial resources, uniting policymakers and supply chain experts to drive investment into retrofitting school infrastructure. By addressing current investment barriers through comprehensive financial solutions, GFI and Ashden will develop strategies informed by in-depth market analysis and engagement.

As part of Ashden's Let's Go Zero campaign, the 'Innovative Finance Project' aims to unlock billions of pounds in funding, enabling schools to redirect financial resources from energy expenses to enhancing educational outcomes. According to the Department for Education, UK school buildings are responsible for 37% of public sector building emissions, with associated costs reaching £1.8 billion in 2023.

"The importance of decarbonising the UK's school environments to meet national net zero targets cannot be overstated," said Miles Ashton, local green investment lead at the GFI. "By financing the energy efficiency of school estates up and down the country, we can reach our net zero goals, reduce energy expenditure for the public sector, and unlock billions in energy efficiency projects, harnessing the opportunity to create a better learning environment for future generations."

Led by Ashden, the Let's Go Zero campaign is a bold national effort to guide UK schools, colleges, and nurseries toward achieving zero emissions by 2030. This ambitious campaign is backed by a robust coalition of 16 organizations, including Climate Friendly Schools, EcoSchools, and The Green Schools Project, alongside influential groups like Surfers Against Sewage, Sustrans, The Tree Council, WRAP, and WWF.

Ashden reports that over 3,000 educational institutions—encompassing schools, colleges, and nurseries—are now committed to the campaign. Collectively, they serve more than 1.4 million students and employ upwards of 210,000 staff. The initiative collaborates with the Department for Education to drive policy changes that support and accelerate schools' efforts toward decarbonization.

"We are delighted to launch this partnership with the GFI at a pivotal moment for the UK's net zero story," said Dr Donal Brown, director of UK programmes at Ashden. "Schools have the potential to be the beacons of what is possible, leading the zero-carbon charge in our communities.

"However, the current funding allocation lags well behind what is needed. The GFI are the leading thinkers on how this financing challenge can be overcome, and we are confident that this partnership gets us closer to real and scalable financing solutions for decarbonising the schools' estate."

The new initiative will align closely with various government policies aimed at helping schools reduce their emissions. For instance, the Department for Education has pledged to enhance building standards, ensuring that every new school building from 2022 onwards meets net zero carbon requirements. Additionally, the department's Sustainability and Climate Change Strategy mandates that by 2025, each school must develop a funded Climate Action Plan and appoint a dedicated sustainability lead on staff.