The Net Zero agenda will require significant up-front investment to transition our existing carbon intensive system, such as how we heat our homes and how we travel, to a lower carbon alternative. The UK Cities Climate Investment Commission (UK CCIC), a partnership between Connected Places Catapult, Core Cities and London Councils, adopts a novel approach to addressing the challenge of financing Net Zero in major cities across the UK.
Ahead of COP26, the UK CCIC will present its findings on the up-front investment needed to address the Core Cities’ & London Councils’ Net Zero pledges. This event will bring together a broad spectrum of high-level stakeholders with a role in Net Zero from government, international organisations, investors, business, academia, media, and NGOs.
Through new research delivered by the UKCCIC, we estimate that approximately £200 billion (in a range of £125bn-£416bn) must be invested to achieve Net Zero across London and UK Core Cities. This is well beyond the normal financing capacity of the public sector alone. At the event we will discuss the opportunities and challenges for private finance to play a leading role in accelerating Net Zero infrastructure investment across commercial real-estate, housing, transport, renewable electricity generation, waste management and other green infrastructure.
Who should attend:
Co-Head of UK & Ireland
Associate & Adviser on Property, Politics and the Built Environment
Connected Places Catapult
The New Localism
Vice Chair of Policy
City of London Corporation
Bristol City Council
Although there is widespread acknowledgement of the scale of the challenge associated with achieving Net Zero across the UK’s cities, far less consideration has been given to how the necessary infrastructure will be practically financed and implemented. The allocation of investment finance is a crucial component of this delivery and has been prioritised by UK CCIC as warranting focussed attention in the run up to COP26, and beyond. In addition, the collaboration within cities between public bodies, the private sector, and local communities will be important for successful delivery of Net Zero infrastructure within UK cities, and the subsequent attraction of investment capital at scale.
Speaker – Prof Greg Clark CBE, Chair, UKCCIC
This report estimates the opportunities for private finance to support the transition to Net Zero across the 11 UK Core Cities and London, which together represent approximately one quarter of the UK population. The report seeks to:
Rufus Grantham, Co-Head of UK & Ireland, BwB
How can Net Zero cities become an investable market for private capital? Whilst Net Zero urban infrastructure presents opportunities for private sector investment, there are a range of constraints in relation to revenues, institutional arrangements, frameworks and incentives that will otherwise hold back the scale of private financial flows. Unlocking private finance to deliver Net Zero will require developing reliable methods to combine investment opportunities so they are at an investible scale and can optimise efficiency.
Closing remarks from Prof Greg Clark CBE, Chair, UKCCIC and Chair, Connected Places Catapult