UK
Ireland
Scotland
London
Construction News
01/03/2023
Bristol Council Awarded £1.3m For New Climate Action Project
Bristol Council has been awarded £1.3 million following a successful bid for a new innovative climate action project.
The scheme is procured through the NetZeroCities Pilot Cities Programme from the European Union Cities Mission.
Together with 52 fellow Pilot Cities across Europe, Bristol – the only UK city to be awarded funding - will use the grant to further accelerate climate action and rapidly decarbonise the city. The successful Bristol consortium partners are Bristol City Council, Bristol and Bath Regional Capital, Bristol Green Capital Partnership and Abundance Investment.
Councillor Kye Dudd, Cabinet Member for Climate, Ecology, Energy and Waste said: "I am delighted that today the EU’s NetZeroCities Pilot Cities Programme has announced €1.5 million of support for the creation of a Net Zero Investment Co-innovation Lab in Bristol to test new climate finance mechanisms to accelerate investment in climate action. This will help Bristol residents, businesses and organisations to both invest in, and benefit from, climate action. I look forward to working with the council’s partners, Bristol and Bath Regional Capital, Bristol Green Capital Partnership and Abundance to deliver this project
He continued: “Building on our £100 million investment in decarbonising our city and our success establishing the £1 billion Bristol City Leap clean energy partnership, this funding is the latest in a series of achievements against our One City Climate Strategy. We are serious about our net zero targets and, with partners around our city, we’re working tirelessly to secure the funding and carry out the projects needed to make Bristol carbon neutral and climate resilient.”
The Bristol One City Climate Strategy identified the need for innovative finance mechanisms to achieve our climate goals. With this Pilot Cities Programme the partners will create a Net Zero Investment Co-innovation Lab in Bristol. This initiative will test a suite of new climate finance mechanisms to accelerate investment in climate action including the potential for community-based investment. It will build upon the administration's success in establishing Bristol City Leap as a joint venture with Ameresco and Vattenfall which aims to invest £1 billion in decarbonising our city.
The Bristol Net Zero Investment Co-Innovation Lab, will research, pilot, deliver and evaluate several financial mechanisms, including:
• A Citizen Community Climate Investment Scheme enabling citizens, business, and communities to invest in their projects to reduce emissions and to generate a return. This will complement the existing community initiatives and those being developed by Bristol City Leap.
• A Net Zero Venture Fund to enable outcome driven finance, environmental, social and governance (ESG) funds and philanthropists to invest in projects that address climate challenges and opportunities and generate a financial return and other community benefits.
• A Carbon Multiplier Fund to invest funding from the new development paid by developers when they are unable to achieve the carbon standards for new development on site.
The Pilot Cities Programme will bring a further opportunity to share learnings with other cities, building on each other’s experiences, replicating and scaling solutions that work in similar contexts. This will ultimately lead to an accelerated transition towards climate neutrality across Europe.
The scheme is procured through the NetZeroCities Pilot Cities Programme from the European Union Cities Mission.
Together with 52 fellow Pilot Cities across Europe, Bristol – the only UK city to be awarded funding - will use the grant to further accelerate climate action and rapidly decarbonise the city. The successful Bristol consortium partners are Bristol City Council, Bristol and Bath Regional Capital, Bristol Green Capital Partnership and Abundance Investment.
Councillor Kye Dudd, Cabinet Member for Climate, Ecology, Energy and Waste said: "I am delighted that today the EU’s NetZeroCities Pilot Cities Programme has announced €1.5 million of support for the creation of a Net Zero Investment Co-innovation Lab in Bristol to test new climate finance mechanisms to accelerate investment in climate action. This will help Bristol residents, businesses and organisations to both invest in, and benefit from, climate action. I look forward to working with the council’s partners, Bristol and Bath Regional Capital, Bristol Green Capital Partnership and Abundance to deliver this project
-- Advertisement --
He continued: “Building on our £100 million investment in decarbonising our city and our success establishing the £1 billion Bristol City Leap clean energy partnership, this funding is the latest in a series of achievements against our One City Climate Strategy. We are serious about our net zero targets and, with partners around our city, we’re working tirelessly to secure the funding and carry out the projects needed to make Bristol carbon neutral and climate resilient.”
The Bristol One City Climate Strategy identified the need for innovative finance mechanisms to achieve our climate goals. With this Pilot Cities Programme the partners will create a Net Zero Investment Co-innovation Lab in Bristol. This initiative will test a suite of new climate finance mechanisms to accelerate investment in climate action including the potential for community-based investment. It will build upon the administration's success in establishing Bristol City Leap as a joint venture with Ameresco and Vattenfall which aims to invest £1 billion in decarbonising our city.
The Bristol Net Zero Investment Co-Innovation Lab, will research, pilot, deliver and evaluate several financial mechanisms, including:
• A Citizen Community Climate Investment Scheme enabling citizens, business, and communities to invest in their projects to reduce emissions and to generate a return. This will complement the existing community initiatives and those being developed by Bristol City Leap.
• A Net Zero Venture Fund to enable outcome driven finance, environmental, social and governance (ESG) funds and philanthropists to invest in projects that address climate challenges and opportunities and generate a financial return and other community benefits.
• A Carbon Multiplier Fund to invest funding from the new development paid by developers when they are unable to achieve the carbon standards for new development on site.
The Pilot Cities Programme will bring a further opportunity to share learnings with other cities, building on each other’s experiences, replicating and scaling solutions that work in similar contexts. This will ultimately lead to an accelerated transition towards climate neutrality across Europe.
Latest Construction News
29/01/2025
Caddick Construction has been awarded a £43 million contract to deliver the first phase of Cole Waterhouse's flagship regeneration scheme in Digbeth, Birmingham.
The project, known as Upper Trinity Street, marks a significant step in the area’s transformation.
Spanning 182,986 square feet, the re
29/01/2025
McLaren Construction has been appointed by O&H Properties to deliver the first phase of a £60 million Foster & Partners-designed development at the corner of New Bond Street and Grafton Street in London’s West End.
The seven-storey, 5,400 square metre prime retail and office scheme will feature ret
29/01/2025
GMI Construction Group has been awarded a contract to develop three high-specification warehouse units totalling over 175,000 square feet at Precedent Drive, Milton Keynes.
The £20 million project, commissioned by DV5 Last Mile Developments (UK) Ltd, a joint venture between Coltham and Delancey Re
29/01/2025
Plans for 106 sustainable new homes in Southville, a neighbourhood in South Bristol, have been approved as the city seeks to increase housing delivery to address growing demand.
Top 10 award-winning housebuilder The Hill Group will create a £60 million development on Raleigh Road, on land that was
29/01/2025
Bouygues UK has reached a major milestone in the fourth phase of the Hallsville Quarter regeneration project in Canning Town, London.
The project, part of the £3.7 billion Canning Town and Custom House Regeneration Programme, recently held a topping out ceremony, marking the completion of the 11-s
29/01/2025
Willmott Dixon Interiors is carrying out a significant upgrade to the roof of the National Maritime Museum in Greenwich, one of London's most iconic cultural landmarks.
As part of the £12 million project, the company is installing over 23,000 square feet of sun-protected glazing above the museum’s
29/01/2025
Equans has been appointed by Babergh and Mid Suffolk District Councils to carry out crucial decarbonisation work across the councils' housing stock, using funding secured through the Social Housing Decarbonisation Fund (SHDF).
The councils used the South East Consortium's Zero Carbon Framework to s
29/01/2025
In the world of construction, the quest for energy efficiency and sustainability is ever-evolving. Among the array of solutions available, EPS (Expanded Polystyrene) insulation stands out as a versatile and effective option for enhancing the thermal performance of buildings, particularly when used f
29/01/2025
BCP Council has completed significant coastal protection works at Hamworthy Park, ensuring its resilience against erosion for the next 20 years.
A 200-metre stretch of sea wall along the eastern promenade has been reinforced using low-carbon concrete, while new steps have been constructed to improv
29/01/2025
Geo-environmental consultancy and remediation contractor, The LK Group, has strengthened its team with a trio of recruits.
The multidisciplinary company's latest raft of hires comprises a new director, associate director and remediation manager.
The geo-environmental specialist, headquartered i
