Major Funding Boost for Green Economy | Public Sector Update

The West of England Combined Authority has exciting news to announce – a significant new investment fund has been given the green light to support the burgeoning green economy across the region.

After receiving the green light from the combined authority’s committee, a substantial investment fund of £100 million has been earmarked to attract private sector investments. This fund will play a crucial role in bolstering the region’s commitment to the environment and green economy. By doing so, it will provide a boost of confidence for potential external investors and empower communities to actively participate in green projects.

One of the key highlights of this initiative is the potential to supply renewable energy to up to 36,000 homes through the funding. Additionally, households and businesses stand to benefit by saving an estimated £6 million on their energy bills over the next 12 years. Not only does this aid in addressing the pressing climate crisis, but it also assists communities in mitigating the escalating costs of energy.

Dan Norris, the Mayor of the West of England, expressed his enthusiasm for this transformative initiative:

“Tackling the climate crisis and fulfilling our commitments to achieving net zero emissions and promoting wildlife recovery are paramount. My Mayoral Combined Authority is pledging £10 million in fresh investment to attract £90 million in private investments to drive growth and create job opportunities in key Net Zero sectors.

“This fund stands as a resounding vote of confidence in the region’s potential to emerge as a leader in renewable energy and green technology.

“To businesses and investors, I extend the invitation to come and be a part of our green revolution – this region is at the forefront of change, and we invite you to invest with us and contribute to the green revolution the West of England is striving for.”

This initiative will be carried out in collaboration with BBRC and will concentrate on various vital areas, including achieving net zero emissions, wildlife conservation, job creation, and fostering the growth of net zero industries.

So, stay tuned for more updates as the West of England sets out on a transformative journey towards a more sustainable and eco-friendly future.

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