June 18, 2024

South West News

South West News from Gloucestershire to Cornwall

£2 Million grant scheme launched to accelerate businesses towards Net Zero

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Growth Hub is launching a Good Growth funded £2 million grant scheme to support businesses in their transition towards Net-Zero.

This initiative is a key step towards fostering environmental sustainability, by helping the local business community invest in technology to curb greenhouse gas emissions.

Key Highlights of the Grant Scheme:

  • Financial Support: The grants, starting at £2,500, are tailored for organisations committed to environmental sustainability. These funds will empower businesses to assess their current carbon footprint and introduce innovative technologies and processes to significantly reduce emissions.
  • Targeted Activity: Projects that will produce CO2e savings as part of a wider business or organisations decarbonisation plan. 
  • Application Criteria: Interested organisations must showcase a genuine commitment to environmental sustainability, provide a minimum of 50% match funding, and demonstrate the capability to cover the project cost as the funding is claimed retrospectively.

The grant scheme is open to all legally constituted organisations, including trading businesses, social and community enterprises.

Louis Gardner, Cornwall Council portfolio holder for economy, said:

“Cornwall Council has established its firm commitment to carbon neutrality and The Good Growth Programme’s focus on environmental sustainability as well as economic impact is key to this ambition. This funding will enable organisations to identify, plan and realise decarbonisation initiatives, accelerating their journey to net zero.”

The grants are administered through the Growth Hub, forming part of a comprehensive £10 million business grant scheme. This initiative, funded by the Good Growth Programme, offers a variety of grants in areas such as research, development, and innovation as well as business growth activity.

The grant scheme is a competitive, two-stage process and Expressions of Interest are open for submission until 5pm on Friday 19 January 2024.  The strongest projects will then be invited to submit a full application and supported to develop a decarbonisation plan, which is required for all successful bids.

For more information on the grant scheme, or to submit an expression in interest, please visit the Growth Hub website.

Net Zero grantsThe Growth Hub is funded by the UK Shared Prosperity Fund as part of the Cornwall and Isles of Scilly Good Growth Programme. The aim of the fund is to realise the potential of businesses in the region and to make the economy more resilient, more equal, and more prosperous.

Story posted 18 December 2023

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