News / net zero
Council secures £1bn investment to achieve net zero targets
Bristol City Council has announced a partnership with Ameresco and Vattenfall Heat UK, companies working in the renewable energy and efficiency sector.
Council bosses claim that the partnership will bring in £1 billion in investment to achieve Bristol’s carbon targets by 2030 as part of Bristol City Leap.
During the first years of the partnership, which is expected to last 20 years, the private sector will invest at least £424m in infrastructure, aiming to reduce the city’s carbon footprint by at least 140,000 tonnes.
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Kye Dudd, cabinet member for environment, ecology, energy & waste, said that City Leap “is a big deal for Bristol”.
He said: “The partnership has secured the funding, knowledge, and resources to usher in a period of extraordinary innovation, investment, and growth to accelerate our progress in reducing carbon emissions and tackling the climate emergency.”
The projects include the expansion of the heat network, which is said to improve both businesses’ and residents’ access to low-carbon heat from sustainable sources.
Another enthusiastic goal is the establishment of the Community Energy Development Fund worth £1.5m, which will be invested into local communities to support the wider efforts to achieve carbon neutrality by 2030.
Beyond the ambitious investment towards energy de-carbonisation, the partnership is also set to bring over £61.5m in ‘social value’ to the city with the expected creation of more than 1000 new jobs, apprenticeships and work placements during its first five years.
Lizz Testani, chief executive officer of the Bristol Green Capital Partnership, said: “This is a huge partnership for Bristol and due to its scale, ensuring its ability to deliver genuine social value for the city has been a major part of the procurement process.
“Bristol Green Capital Partnership is really looking forward to working with City Leap to engage communities and businesses to maximise the opportunities for inclusive climate action across Bristol.”
This piece of independent journalism is supported by NatWest and the Bristol24/7 public and business membership
Main photo: Bristol Open Doors
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