Financial Innovation

Many local authorities have set out targets for the transition to net zero but lack the necessary finance and skills to achieve these goals. The Net Zero Hub commissioned a scoping study to explore whether the creation of a specialised, place-based delivery vehicle, could:

• Increase the flow of capital to integrated net zero projects.
• Address the lack of development and financing capacity of local authorities.
• Turn economic potential into bankable programmes.
• Provide a replicable solution that could be deployed as soon as possible.

The report, which is available for download below, sets out how the Net Zero Delivery Vehicle was successfully conceptualised and tested via the scoping study.  Further work is now underway to develop the business case for locally-based Net Zero Delivery Vehicles. If you would like to discuss this project or engage with the next stage of work, please contact us info@gsenetzerohub.org.uk

3Ci is a partnership between Connected Places Catapult, Core Cities UK, London Councils and other local authorities across the UK, which is aimed at enabling local authorities secure the necessary long-term finance for achieving net zero. The Department for Energy Security and Net Zero has provided £1.5m of funding to support the work of 3Ci to leverage the combined scale of cities to mobilise finance and drive investment into low and net zero carbon projects across all of the UK’s largest cities, rather than individual ones. 3Ci is developing its collaboration with private investors, financiers, advisors, developers and built environment technology professionals and has developed a pipeline of over 1,000 investment-ready projects.