3Ci, the Cities Commission for Climate Investment, has welcomed the findings of Chris Skidmore MP’s report Mission Zero.
3Ci’s Chair, Professor Greg Clark CBE, said:
‘Mission Zero is a welcome and powerful contribution to the Net Zero debate at a critical moment in time. The report’s increased focus on the economic benefits of Net Zero, and the scaling up of green finance activity is much needed.
‘I particularly welcome the report’s acknowledgement the vital role of local authorities in getting to Net Zero. The role of nations in setting targets and providing the means to achieve them is vital. But increasingly, climate change is simply too complex to solve at the national level alone, and success will come only by partnering with place leadership working in tandem with the custodians of major financial institutions, which is exactly the model 3Ci has developed. I look forward to working with Chris and 3Ci’s other partners in making these ambitions a reality.’
The 3Ci team engaged with Chris Skidmore MP during the review that led to this report and made a written submission, as did many of 3Ci’s stakeholders across local government and the private sector, including UK100 who have been instrumental in championing the role of local authorities.
The essence of 3Ci’s submission is that paying for Net Zero is beyond the ability of the public purse alone, and the UK needs a new, innovative financial solution to attract additional private investment into Net Zero projects that will also boost jobs and growth.
3Ci has developed exactly such a model, working with representatives across the whole UK local government family (counties districts and towns as well as cities), alongside major investors, banks and other financial institutions, who all back 3Ci’s approach. 3Ci has also had the support and financial backing of Government through the Department for Business, Energy, Innovation and Skills in developing the detail of its model.