3Ci – Cities Commission for Climate Investment – has today announced that Prof Greg Clark CBE has been appointed as its Chair. 3Ci was founded by the Connected Places Catapult, London Councils and Core Cities UK. Greg initially held the position on an interim basis since the commission was launched at COP in Glasgow in October 2021.
3Ci works to build innovative financial partnerships between Urban Investors and City Leaders. The aim is to accelerate Net Zero investment across the UK and build stronger partnerships between these sectors, which will:
- deliver a £200billion-plus Net Zero investment dividend for the UK;
- significantly reduce energy usage, fuel poverty and emissions, supporting a Just Transition;
- boost UK economic growth and productivity, creating many thousands of jobs;
- increase adult skills-levels, strengthening the labour market for the future; and
- firmly position the UK as a global leader in delivering Net Zero financing solutions.
3Ci is creating a broad partnership, including UK Government, Innovate UK, Metro Mayors, Combined Authorities, Scottish and Key Cities, Counties and Districts and a growing league of private investors, financiers, advisors, developers and built environment technology professionals.
3Ci offers a platform for a single conversation on issues relating to Net Zero financing across the UK. As well as our founding partners, Innovate UK are providing core funding for our work and the Department for Business, Energy and Industrial Strategy (BEIS) is providing programme support.
Launched at COP26 in Glasgow, one of our partner cities, 3Ci quickly gained the backing of senior national and global investors. It has engaged and has support from HSBC, NatWest, Lloyds, UK Infrastructure Bank, Scottish National Investment Bank, Aviva, Legal and General, Siemens, Arup and Jacobs.
3Ci has powerfully brought together place-leadership with the custodians of financial institutions to create a practical solution to a shared challenge. 3Ci’s partnership combines an innovative financing model with local convening powers, access to investment, technical assistance and ready to go projects to deliver it’s aims, in a way that will also take communities on this journey.
3Ci has now developed activities around five practical domains for partnership between Urban Investors and City Leaders.
- National Net Zero Project Pipeline – Development of a national register of local and regionally led bankable projects, articulated to a common and combinable format, to deliver net zero outcomes.
- Regional Investor Events – Series of events aimed at convening cities and local governments with investors to showcase opportunities, building mutual understanding and confidence.
- Local Integrated Investment Pilots – A programme of geographically diverse pilots which test and demonstrate the delivery of integrated local investment model that aggregates different domains and sectors to optimise co-benefits and facilitate cross-investment.
- Dissemination of local and regional innovations – Development of a national platform to share innovations rapidly in an easily accessible and standardised format.
- National Technical Assistance Programme – Creation of a development fund that invests in the necessary capacity and skills to bring projects forward for investment.
Greg Clark brings a wealth of experience to the role, and has broad experience with both devolved government and investment finance. He is chair of Connected Places Catapult. He was previously chair of the OECD Forum of Cities and Regions, British BIDs, the JLL Cities Research Centre, and the UK Innovation Corridor. He has advised the World Bank, European Investment Bank, and Inter-American Development Bank on Sustainable Urban Investment. He was recently Global Head and Group Advisor for Future Cities & New Industries at HSBC Group.
He is currently a member of the board of Transport for London and chairs of their Land & Property Committee. He is member of the World Economic Forum Future Council on Cities & Urbanisation, and the Cities Council of Bloomberg New Economy Forum. Greg also chairs the UK Government’s external advisory board on Secure Connected Places.
3Ci continues to grow in influence under Greg’s leadership and has recently hosted a major Net Zero Investment Summit bringing together investors, local authorities and others to help shape bankable, net zero projects.
Commenting on the appointment, Mayor of Bristol, chair of Core Cities, and member of the appointment panel, Marvin Rees said:
“We are absolutely delighted to have appointed someone of Greg’s calibre. He brings an immense depth of knowledge on how cities function and work along with their investment requirements. As city leaders we look forward to working with Greg on the next stage of 3Ci’s journey as we work to secure some £330 billion of investment for cities around the UK.”
Cllr Kevin Bentley, Leader of Essex County Council added,
“Counties and Cities are in the climate challenge together and our work with the private sector through 3Ci is critical to accelerating investment. We are delighted to have Greg Clark as our chair.”
Cllr Susan Aitken, Leader of Glasgow City Council said,
“We need a permanent partnership between city leaders and urban investors if our climate ambitions are to be fully realised. Glasgow and Scottish Cities are fully committed to working with 3Ci to help achieve the investment needed. We are delighted to have Greg Clark to chair this important partnership.”
Nicola Yates, CEO of Connected Places Catapult added,
“Since Connected Places Catapult, London Councils and Core Cities joined forces to create 3Ci, the Commission has gone from strength to strength. I’ve been proud to witness 3Ci grow into a wider partnership, united around helping cities to shape bankable, net zero projects. The initiative now also includes the UK Government, Innovate UK, Metro Mayors, Combined Authorities, Scottish and Key Cities, Counties and Districts, plus a growing league of private investors, financiers, advisors, developers and built environment technology professionals.
“At its heart, 3Ci’s unique model aggregates demand and fosters innovation in ways which will help drive UK enterprises and exports. We are delighted that our chair, Greg Clark, will chair the partnership on a long-term basis.”
Prof Greg Clark CBE added,
“3Ci has a vital mission to ensure that urban investment plays a key role in delivering the UK’s ambitious net zero commitment, city by city and neighbourhood by neighbourhood. That means we need a credible platform to connect and partner city leaders with urban investors. I’m proud to be continuing my work with the commission on a long term basis, and look forward to playing my part in helping cities attract investment to tackle the climate crisis.”
3Ci’s next event, Regional Net Zero Investment Forum – Glasgow, will take place on 22 November. Find out more and register here.