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Local authorities and the low carbon financing challenge

Local authorities and the low carbon financing challenge. Base London 11 th July 2013. Local authority and the low carbon economy. Leeds City Region; mini-Stern. Study carried out in 2012 to assess viability of delivering low carbon programme to Leeds City Region

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Local authorities and the low carbon financing challenge

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  1. Local authorities and the low carbon financing challenge Base London 11th July 2013

  2. Local authority and the low carbon economy

  3. Leeds City Region; mini-Stern • Study carried out in 2012 to assess viability of delivering low carbon programme to Leeds City Region • Investment required to deliver 13% carbon savings by 2022 over 1990 • Positive NPV with cost of capital at 8% Total £4.9b Sector £b Source; Centre for Low Carbon Futures

  4. Local authorities enabling of low carbon finance De-risking Aspiration leadership • Own estate contracts • Social housing • Brand • Marketing support • Planning • Waste contracts • Power purchasing agreements • Jobs • Fuel Poverty • CO2 reduction targets • Landfill reduction • Energy security Local authorities Convening power Enabling finance • Project initiation • Procurement • Local initiatives (LEPs etc) • Community leadership • Scale • Revenue accounts • Grants – UK and EU • Allowable solutions • Credit enhancements • Prudential borrowing

  5. Funding low carbon activity at a time of budget cuts Emerging position Historical position Cost centre Revenue earner Project fee income Regular income LA funded Access grant funding Energy Savings Energy generated DECC funds Energy company obligations

  6. Investment & Return Pipeline encouragement Local Authority Other public sector Private sector Finance Investment returns Delivery model and private sector partners Fee Delivery model Delivery Unit

  7. Financing and delivery model Investment and return Development Directorate Leadership & encouragement GD Fund Green Deal payments BCC Carillion Marketing Assessment Project Planning Installation companies Energy Companies Green Deal Payments

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