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The London Green Fund – a JESSICA Holding Fund

The London Green Fund – a JESSICA Holding Fund. Frank Lee JESSICA and Investment Funds division, European Investment Bank Brussels, 29 November 2011. The London Green Fund.

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The London Green Fund – a JESSICA Holding Fund

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  1. The London Green Fund – a JESSICA Holding Fund Frank Lee JESSICA and Investment Funds division, European Investment Bank Brussels, 29 November2011

  2. The London Green Fund • The London Green Fund (a JESSICA holding fund) established in late 2009 to invest in carbon reduction projects in line with the Climate Change component of the London Plan • Focused on energy efficiency, waste and decentralised energy as the “3 biggest carbon reduction opportunities for London” • Governed by representatives from the Greater London Authority, the Environmental Agency and the London Waste and Recycling Board. The Mayor’s environmental advisor sits on the Investment Board London Waste & Recycling Board £32m £32m £50m London Green Fund £100m* Managed by EIB £35m £50m Waste Urban Development Fund Energy Efficiency Urban Development Fund Private finance Private finance Equity type investment Loan type investment Min £35m Min £50m Lowrisk High risk Urban Projects Urban Projects * £15m remains available for further investment Aiming to deliver outputs/impacts on job creation, tons of carbon saved, and minimum energy usage savings 2

  3. London Energy Efficiency Fund Low cost financing in exchange for carbon reduction benefits Insulation Building management technologies Cooling equipment Low carbon heating

  4. London Energy Efficiency Fund

  5. InvestmentStrategy

  6. RE:FIT building energy efficiency programme RE:FIT BUILDING ENERGY EFFICIENCY FOR TOMORROW

  7. Eligible Expenditures Typical ECMs • Variable speed pumps and fans • PC shutdown software • Voltage optimisation • Insulation • Draft proofing • Lighting upgrades & controls • Building Management System Controls and strategic review • Heat recovery • Boiler replacements • Combined Heat & Power • Solar thermal • Photovoltaic cells 1E Nightwatchman software for PC auto shutdown

  8. LONDON GREEN FUND Contact details: Jessica@eib.org; lee@eib.org

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