The government has earmarked Leeds as the UK's first 'green finance capital'.
A £10 million Whitehall package has been pulled together to make Leeds the country's Centre for Greening Finance and Investment, with a giant research hub to lead the climate change initiative.
The Leeds centre will provide world-class data and analytics to financial institutions and services such as banks, lenders, investors and insurers to put environmental matters at the forefront of all their future decisions.
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For example, companies could take advantage of cutting-edge technologies to predict severe storms and flood risks for property investors. Others tools could see data on industrial pollution used to influence investment portfolios.
The new hubs will open later this year in a collaborative project in conjunction with the University of Oxford, the University of Leeds and Imperial College London.
Energy and Clean Growth Minister Anne-Marie Trevelyan said: "Leeds is one of the biggest financial sectors in the UK, with the clout to influence industries and markets around the world – including leading the charge to tackle climate change.
"Home to major banks and investment companies, the city could not be better placed to seize the exciting opportunities that will arise from the new UK Centre for Greening Finance and Investment.
"Working in partnership with the University of Leeds, this centre will ensure the UK’s climate and the world’s health are at the heart of financial decision-making.
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"It will also make certain that the UK’s private capital is equipped and mobilised to play its vital role in eliminating our contribution to carbon emissions and building back greener.
"The UK is leading the world in a green industrial revolution and we are powering forward with putting the Prime Minister’s ambitious 10 Point Plan into action.
"The pioneering finance hub will support our commitments by driving cutting-edge technologies and providing the transformative climate and environmental data needed to fulfil our energy ambitions and climate targets – putting Leeds firmly on the world map at the heart of green investment."
