CP2421-23 IUK Fast Followers

Devon has a well-developed Carbon Plan and a very active network of community-based organisations working hard to deliver net zero by 2050 at the latest.\r \r DCC is delivering the Financing Net Zero project as part of IUK Net Zero Living https://iuk.ktn-uk.org/programme/net-zero-living/, aiming to support places in their transition to Net Zero.\r \r The key purpose of this project is to provide a route to innovative types of finance for implementing projects in the Devon Carbon Plan.\r \r The Carbon Plan recognises the systemic nature of the climate crisis, that it affects all aspects of our lives, exacerbating social and economic inequalities.

At the same time, it understands that acting on climate change, to achieve net zero, provides systemic opportunities to "create a fairer, healthier, more resilient and more prosperous society." The FNZ team is informed by Doughnut Economics in its systemic approach to achieving a thriving Devon economy that is ecologically safe and socially just.\r \r The FNZ programme (November 2023 - June 2025) will facilitate a pipeline of investment-ready net zero projects and, where possible in the timeframe, finance will be arranged.\r \r The pipeline of projects is expected to include, as examples, the development of integrated place-based net zero developments, coordinated nature-based solutions across biospheres and river catchments, and electric vehicle charging infrastructure.

Innovative hybrid models of finance will utilise debt finance like Public Works Loan Board and Infrastructure Bank, equity finance that shares ownership and risk, and community finance through Local Climate Bonds, as well as realising additional revenue raising opportunities from natural capital or carbon credits.

It is not anticipated to focus on grant funding as this route is already well used, however this option should not be excluded should an appropriate opportunity arise.\r FNZ Headline Activities\r \r - Identify and prioritise Devon's existing net zero pipeline and strategic opportunities.\r - Working with partners and project board, move selected Priority Projects towards investment grade status; Progress an Industrial Estate project through the delivery of investment grade audits and a smart energy plan (this is likely to be, but not limited to Heathfield, Teignbridge).\r - Identify external investors and funders for Priority Projects.\r - Collaborate in the development of the NZDV concept, supported by the Shift to Net Zero project.

Specify initial business cases for Devon to deliver the first phase of investments.

Evaluate the potential for a NZDV for Devon and a roadmap for implementation.\r - create a project development unit responsible for creating the playbook for Net Zero investments.\r \r This Opportunity Consists of Four Lots, the titles of which can be found below.

Bidders may bid for any combination of multiple or individual lots, additional detail regarding the specific requirements of each lot can be found in the specification within the procurement do