· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on The Financial Times or enjoy below
🗞️ Driving the news: Bristol City Leap, a partnership among Bristol city council, US cleantech firm Ameresco, and Swedish energy company Vattenfall, is aiming to make Bristol "carbon neutral and climate resilient" by 2030
• The collaboration is an example of public-private partnerships addressing climate and energy challenges
🔭 The context: Bristol's approach demonstrates how public and private sectors can collaborate to address pressing issues
• Over 180 companies expressed interest in joining the initiative, highlighting significant private sector appetite for such partnerships
• About £630mn will be funneled over five years into various green energy ventures
🌎 Why does it matter for the planet: Collaborations like Bristol City Leap could be key in tackling climate change and accelerating the transition to sustainable energy
• As fiscal constraints limit public spending, private investments bridge financing gaps, suggesting a critical role for the private sector in addressing environmental challenges
⏭️ What's next: The UK government is encouraged to foster more partnerships like Bristol City Leap and to think innovatively about merging private and public capital to meet public policy goals
• Moreover, the Green Finance Institute is designing an investment vehicle to spur growth in the electric vehicle battery sector, positioning the UK as a global leader
💬 One quote: "Realising the full potential of blended finance will require a change of approach and a willingness to work collaboratively with the private sector, co-designing solutions that work for everyone."
📈 One stat: The automotive supply chain for EV technologies is projected to be worth £24bn a year by 2025.
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