Rock Rail Moorgate named a 2026 GRESB Sector Leader

Rock Rail Moorgate has been recognised as a GRESB Sector Leader for 2026, ranking first in its peer group for passenger rail rolling stock. The recognition reflects the asset’s strong performance against GRESB’s environmental, social and governance (ESG) assessment, which benchmarks real assets around the world.

GRESB Sector Leaders are the highest-performing organisations in their respective categories. The recognition places Moorgate among the leading rail assets assessed this year and reflects the work taking place across the asset’s lifecycle to manage performance responsibly and deliver long-term value.

Rock Rail Moorgate finances and leases a fleet of 25 six-car Class 717 trains, which operate on Great Northern services between London Moorgate and destinations in Hertfordshire. The trains replaced the former Class 313 fleet, bringing modern facilities and greater capacity to these commuter routes.

The GRESB result is a recognition of sustained work across the asset, including the management of ESG data and performance, and the collaboration between Rock Rail, its partners and the teams responsible for operating and maintaining the fleet. It also reflects Rock’s approach to responsible investment: considering environmental and social performance alongside the effective management of the asset over the long term.

For Rock, the recognition reinforces the importance of active asset stewardship and consistent measurement. GRESB’s benchmarking provides a framework for assessing performance and identifying where asset management can continue to develop.

We congratulate everyone involved in Rock Rail Moorgate on this achievement and thank our partners for their continued commitment to the fleet and the communities it serves.

 

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Driving Net Zero: How Rock Road 
Is Funding the UK’s Bus Transition

Accelerating the shift to clean, affordable, zero-emission transport

Year
2025
Category
Rock Road
Share

The Challenge

The UK bus network is at the heart of everyday travel – but over 30,000 diesel buses still need replacing to achieve a fully zero-emission fleet.

While around 5,000 battery-electric buses are already on the road, the high upfront cost of electric vehicles and depot electrification continues to slow the transition. Traditional funding routes — such as government grants or short-term bank finance – have helped start the journey but cannot support decarbonisation at the scale required.

A new, sustainable funding model was needed: one that could attract long-term capital, spread costs fairly, and give operators and authorities confidence in the future.

The Solution

In 2021, Rock launched Rock Road to deliver exactly that –  applying its proven infrastructure financing approach from the rail sector to the UK’s clean bus revolution.

Working with Aviva, the National Wealth Fund, and HSBC, Rock created a dedicated investment platform that channels infrastructure-style finance from pension funds and institutional investors directly into zero-emission bus projects.

This model provides:

Impact

The platform has already raised £100 million, with capacity to scale to £1 billion per year over the next decade – providing a consistent source of affordable capital for local authorities and operators.

Rock’s model ensures that the total cost of ownership (TCO) of electric buses can now be lower than diesel equivalents, thanks to both cheaper long-term finance and reduced operating costs.

In London, Rock has financed 120 zero-emission buses under 7-year leases aligned with Transport for London’s contract lengths. This structure gives operators flexibility and certainty:

The Future

Rock Road’s ambition is to support the rollout of zero-emission fleets across the UK – helping local authorities and operators meet climate goals without overextending public budgets.

By leveraging limited government funding to attract large-scale private capital – for example, £10 million of public investment unlocking over £250 million in total funding – Rock’s model accelerates decarbonisation while keeping costs low for the public sector.

Our ambition is to make electric buses the default choice - not because of subsidy, but because they are the best economic and environmental option.
Louis Swindell
Commercial Director, Rock Road