How can cities strengthen their business cases for net zero investment? And if their plans are brought together and aligned in a new and creative ways, could they generate greater scale, volume and predictability in ways that might make them more attractive to investors?
To answer these and other questions, the Connected Places Catapult has teamed up with the UK’s Core Cities and London Councils to create the UK Cities Climate Investment Commission. The aim is to the leverage the combined scale and clout of the UK’s cities to mobilise investment into low and net-zero carbon projects across all of the UK’s largest cities, not just individual ones.
As an initial step we have commissioned research to assess and analyse the low carbon investment that cities need, and the associated investment cases. The findings of the report will be launched at the COP26 Climate Summit in Glasgow with a series of dissemination events and podcasts being planned in the months leading up to November. The aim of the commission is to;
- Support UK cities in achieving their carbon reduction targets, whilst developing a deeper understanding of the low carbon investment opportunities and challenges faced by UK cities.
- Create increased confidence within the investment community in low carbon projects by leveraging the benefits of the scale offered through networks of cities rather than individual ones.
- Provide the basis for engaging with industry on the opportunities for the supply and deployment of low carbon technologies into the marketplace.
This episode is a summarised overview of the work of the commission using audio from the launch event that was held on 1st July, 2021 chaired by Andrew Carter, Chief Executive of the Centre for Cities and attended by Prof. Greg Clark, Chair of the UK Cities Climate Investment Commission, Cllr Susan Aitken, Leader of Glasgow City Council, Niall Bolger, CEO of the London Borough of Hounslow, Rachel Dickie, Executive Director for Investment at Grosvenor Britain and Ireland, Shuen Chan, Head of ESG at Legal & General Investment Management (LGIM). Music on this episode is by Blue Dot Sessions and Phill Ward Music (www.phillward.com)Listen on Apple Podcasts Listen on Spotify Listen on Google Podcasts
To read the Joint Declaration of the UK Cities Climate Investment Commission on our website. You can also watch a recording of the launch of the Commission, which was held on 1st July, which included a presentation on the initial findings of the research report.
To read and download the Catapult’s Net Zero Places Innovation Brief, which explores a number of new market opportunities in the active travel sector, click here.
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