Green projects given support to attract private sector investment - Defra
New investment approach announced to involve private sector in environmental projects, helping to tackle climate change and restore nature.
Four projects which will protect and restore valuable habitats have been selected to receive funding in a pilot scheme to encourage sustainable private sector investment in our natural environment.
Defra, the Environment Agency (EA), Esmée Fairbairn Foundation (EFF) and Triodos Bank UK have formed a collaboration to support environmental projects to create sustainable funding models.
Having been sourced and evaluated by Triodos Bank UK the projects will receive grant funding from Defra, the EA and EFF to support their development, complete business plans to attract private sector investment, and deliver long-term environmental benefits and sustainable financial returns.
The four projects receiving funding are:
- Devon Wildlife Trust’s restoration of the Caen wetlands
- Rivers Trust’s work on natural flood management in the Wyre catchment in Lancashire
- NFU’s work to reduce nitrate pollution in Poole Harbour
- Moors for the Future Partnership’s restoration and conservation of peatlands in the Pennines
Emma Howard Boyd, Chair of the Environment Agency, said: In England we are increasingly seeing new extreme weather accelerate from wettest to driest and back again, restoring nature is key to managing this. You can’t put a price on nature, but investing in its recovery can generate a steady return and will make the UK economy more clean and resilient. These projects are designed to attract investment into local economies while developing models for businesses to use and scale up around the world.”
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Posted On: 01/06/2020