Nature and environmental projects which tackle climate change, create and restore habitats, or improve water quality could soon benefit from a new £10 million fund to help them both benefit the environment and attract private sector investment.
The Government has launched a fund called the ‘Natural Environment Readiness Fund’ which will provide grants of up to £100,000 to environmental groups, local authorities, businesses with ideas, community friend groups and other organisations where they can attract private investment.
It is hoped that this will create a pipeline of projects for the private sector to invest in that will lead to real results for nature, develop new funding models that can be replicated elsewhere and demonstrate our leadership in the run up to Cop26 in November.
So what kind of projects can apply for the fund? Examples the Government have provided include creating new woodlands, restoring peatlands, creating wildlife habitats, making new green spaces for the public, creating coastal wetlands, restoring river catchments and projects combining nature with education and eco tourism. There is plenty to play with here!
Environment Minister Rebecca Pow said:
Our 25 Year Environment Plan made clear that while the public sector will continue to be a central source of funding, it is critical that this is alongside more private sector investment to protect and enhance our natural environment.
Investors are rightly recognising environmental factors as key drivers of value. As we look to build back greener from the pandemic, I would encourage any interested businesses, local authorities, eNGOs or other organisations to bid for a portion of this fund.
Many community groups, parish councils and local authorities have great ideas for making their areas greener but often lack the fund to provide it, by bringing Government funding and the private sector together, now there is a real chance to bring these ideas to life, making a cleaner, greener Britain for all.
For more information visit the Natural Environment Investment Readiness Fund