Homeowners needing a mortgage on a draughty home, or a loan for a car using petrol or diesel, could be forced to pay higher interest rates as part of government plans to cut greenhouse gas emissions to zero by 2050. The plans emerged during the latest round of UN climate talks in Madrid, which ended yesterday. Lord Stern, a professor who was former head of the Government Economic Service and now a member of the Council for Science and Technology, which directly advises the prime minister, said: “British consumers would be able to benefit directly from new products and services, including green mortgages to reward greater energy efficiency and discounted breakdown insurance for more reliable electric cars.” Stern is working with finance ministers from 50 countries to build the Coalition of Finance Ministers for Climate Action. A key aim is to make London a centre for green finance.
Times 15th Dec 2019 read more »