An Opportunity for the UK Infrastructure Bank to Accelerate the Pace of Net Zero Investment in our Cities. Our report Accelerating the Rate of Investment in Local Energy Projects, published in July 2020, explained the role that local authorities can play in helping to deliver the investment in local energy projects needed to achieve the transition to Net Zero. We identified the potential scale of local energy investment and the barriers faced by local authorities in delivering it. UK100’s key recommendation was that Government support for local energy Net Zero investment would be delivered most effectively through a new Net Zero Development Bank. We were delighted with the Government’s announcement in the March 2021 Budget of the creation of a new UK Infrastructure Bank (UKIB) with a dual policy focus to tackle climate change and support regional and local economic growth. In this set of case studies, we look at three major UK cities at the forefront of investing in local energy projects and where there are clear opportunities for early UKIB support: Bristol, Nottingham and Leeds. All three cities have ambitious targets for achieving Net Zero and have already achieved significant investment across a range of low carbon projects.
UK100 31st August 2021 read more »