A pioneering new fund to drive private investment in nature and tackle climate change has been awarded to 27 projects, including one run by Stroud-based Ecotricity.
Projects to restore kelp forests, create new woodland, deliver natural flood risk management, and improve water quality are among an initial 27 schemes to benefit from a pioneering new fund Defra, the Environment Agency & Natural England has announced.
Ecotricity New Ventures has secured £89,675 to identify and model woodland creation in a number of company sites, which will result in the creation and selling of woodland carbon a new and bespoke web platform to more than 200,000 customers.
Environment Minister Rebecca Pow said: “To tackle the environmental challenges we face from climate change and biodiversity loss, it is crucial that domestic natural environment projects are able to attract private investment alongside support from the public sector.
“Unleashing innovation and growing new sources of finance, such as through the Natural Environment Investment Readiness Fund, are fundamental for delivering nature recovery and developing nature-based solutions to achieve net zero carbon emissions by 2050.”
Chair of the Environment Agency, Emma Howard Boyd said: “With the right structure, nature-based projects can be scaled up by private finance, helping to reduce emissions, prepare for climate shocks and create jobs.
“From a new business model for multi-functional forestry in Yorkshire, to an investment fund to transform farmland in Norfolk, these projects will provide evidence of funding models to make industries fit for the future, reach net zero by 2050, and create a nature positive future.
“With COP26 coming to the UK this year, this demonstrates how to create investable propositions for nature based solutions to the climate emergency.”