{"id":5327,"date":"2022-10-23T15:04:00","date_gmt":"2022-10-23T14:04:00","guid":{"rendered":"https:\/\/catapult.org.uk\/?post_type=case_study&p=5327"},"modified":"2023-08-21T12:33:37","modified_gmt":"2023-08-21T11:33:37","slug":"stimulating-investment-in-decarbonisation-of-uk-cities","status":"publish","type":"case_study","link":"https:\/\/catapult.org.uk\/our-work\/case-studies\/stimulating-investment-in-decarbonisation-of-uk-cities\/","title":{"rendered":"Stimulating investment in decarbonisation of UK cities"},"content":{"rendered":"\n
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Stimulating investment in decarbonisation of UK cities <\/h1>\n\n\n\n
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\n Research estimates that investing in net zero projects across the eleven Core Cities and London represents a \u00a3206 billion investment opportunity\n <\/div>\n\n <\/div>\n\n
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\n This opportunity is spread across six different asset classes, for which domestic retrofit represents almost a third\n <\/div> <\/div>\n\n
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The Connected Places Catapult is leading a world-first alliance across the UK\u2019s major cities to secure the long-term finance necessary for achieving net zero. The Cities Climate Investment Commission (3Ci) is helping cities to attract public and private sources of financing for a \u00a3300bn+ market opportunity for a multi-intervention place-based Net Zero transition.

The Programme is partly funded by BEIS, and is in partnership with London Councils and Core Cities and other UK local authorities aimed at stimulating investment in the decarbonisation of UK cities. Research undertaken by the Commission estimates that currently identified net zero projects in the Core Cities and London represent a \u00a3330 billion investment
opportunity.<\/p>\n\n\n\n

3Ci is driving a new approach to net zero financing by:<\/p>\n\n\n\n

\u2022 Innovating new approaches and mechanisms for securing investment, testing and deploying these within the market.<\/p>\n\n\n\n

\u2022 Accelerating the speed of collaboration between local and national Government, industry and financial institutions by convening partners and promoting best practice.<\/p>\n\n\n\n

\u2022 Advocating for changes in approach to investment across local and national Government.<\/p>\n\n\n\n

Phase I successes:<\/strong><\/p>\n\n\n\n

\u2022 Developed a place-based approach using a blended finance model, where revenues from more profitable assets can support those from less profitable
areas.<\/p>\n\n\n\n

\u2022 Engaged with over 5,000 individuals through online events, podcasts, and four highly successful events during COP26.<\/p>\n\n\n\n

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Phase II, funded by BEIS:<\/strong>

\u2022 Defining the business case for securing long-term development finance to support project identification, design and financing.

\u2022 Overseeing the production of a strategic outline case and outline business case, to help secure funding from central Government for Phase 3 pilots and technical assistance.<\/p>\n\n\n\n

3Ci Work Programmes<\/strong>:<\/p>\n\n\n\n

On the ground, 3Ci initiatives will bring business, finance, and local communities together to accelerate change through innovation that is fair to all. We are creating new financial partnerships with fund managers and banks, so they can invest with confidence in local net zero projects. These include the retrofit of homes and commercial properties, the integration of renewable energy, shifts to sustainable transport networks, circular waste management, and the enhancement of green spaces and waterways.<\/p>\n\n\n\n

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  1. National net zero project pipeline<\/strong> \u2013 the development of a national register of local and regionally-led, bankable projects to deliver net zero outcomes.<\/li>\n\n\n\n
  2. Regional investor events<\/strong> \u2013 a series of events aimed at convening cities and local governments with investors to showcase opportunities, building mutual understanding and confidence.<\/li>\n\n\n\n
  3.  Local integrated investment pilots<\/strong> \u2013 delivery of a programme of geographically diverse pilot projects which test and demonstrate a financing framework that allows different sectors to invest in the infrastructure our cities need in a profitable way with confidence.<\/li>\n\n\n\n
  4. Dissemination of local and regional innovations<\/strong> \u2013 the development of a national platform to share innovations rapidly in an easily accessible and standardised format.<\/li>\n\n\n\n
  5.  National technical assistance programme<\/strong> \u2013 the creation of a development fund that invests in the necessary capacity and skills to bring projects forward for investment.\u201d<\/li>\n<\/ol>\n<\/div>\n<\/div>\n\n\n\n
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    \n London boroughs and the UK\u2019s 11 Core Cities have a huge responsibility as economic and population centres to create solutions to reach net zero targets.<\/em> <\/p>\n \n

    \n Mayor Philip Glanville<\/strong>
    Chair of London Councils\u2019 Transport and Environment Committee <\/div>\n \n \n
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    <\/p>\n","protected":false},"excerpt":{"rendered":"

    The Connected Places Catapult is leading a world-first alliance across the UK\u2019s major cities to secure the long-term finance necessary for achieving net zero. The Cities Climate Investment Commission (3Ci) is helping cities to attract public and private sources of financing for a \u00a3300bn+ market opportunity for a multi-intervention place-based Net Zero transition.<\/p>\n","protected":false},"featured_media":5328,"template":"","meta":{"_external_link_checkbox":false,"_external_link":"","_event_date":"","_featured_case_study":false},"categories":[7],"tags":[61,63],"class_list":["post-5327","case_study","type-case_study","status-publish","has-post-thumbnail","hentry","category-connected-places","tag-catapult-highlights","tag-leverage"],"yoast_head":"\nStimulating investment in decarbonisation of UK cities - The Catapult Network<\/title>\n<meta name=\"description\" content=\"The Connected Places Catapult is leading a world-first alliance across the UK\u2019s major cities to secure the long-term finance necessary for achieving net zero. 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