Author: UK Cities, George Beechener; Emre Eren; Rufus Grantham; Philip Griffith; Charlie Leaman; Alex Massie; Laura Stone

Category: City level capacity assessment

Published/Created by: UK Cities Climate Investment Commission

Link: https://www.corecities.com/sites/default/files/field/attachment/UKCCIC_Final_Report-1.pdf 

The intention of this report is to support the acceleration of Net Zero financing, particularly through bringing together private and public sector bodies to support decarbonisation of the UK's core cities and London. In this context, the UK Climate Change Investment Commission (UKCCIC) sees private sector finance as a critical tool for achieving the Net Zero transition. Alongside supporting substantial GHG reductions, integrating private finance into the Net Zero transition will support the UK’s levelling up agenda, create local jobs, deliver clean and inclusive places to live, and prompt greater collaboration between all stakeholders in local places. The scale of private finance available is sufficient to support substantial progress towards Net Zero. However, there is a need to understand where private finance can play an effective role, and where hurdles must be overcome to unlock this resource. New approaches are therefore required to deliver this multi-intervention and place-based transition.

In this context, this report has:

• Assessed the magnitude of investment needed to take the UK’s Core Cities and London to Net Zero;
• Investigated the opportunities and limitations for private finance to play a leading role in financing key Net Zero infrastructure for cities: commercial real-estate, domestic housing, transport, renewable electricity generation, waste management and green infrastructure;
• Provided recommendations for how flows of private finance into city-based Net Zero infrastructure could be enhanced