Glasgow City Region Adaptation Strategy - report

Flagship Action 12: Regional investment pipeline and adaptation finance lab

Intention Partners will work to establish an Adaptation Finance Lab to unlock new investments for funding adaptation action by supporting innovative financing models in Glasgow City Region, including to explore ways to blend public funds with private sector finance. This will build on the eight innovative models developed through the Resilient Regions: Clyde Rebuilt project, which will be further developed and taken forward with relevant stakeholders in the region. The other function of the lab will be to develop a pipeline of investable projects for Glasgow City Region to match with suitable financing. A key part of this work will be to consider how to frame investments to allow for larger institutional investors to support adaptation in cities and regions. Outcomes Ensuring adequate adaptation funding and finance is a strategic challenge, not only for Glasgow City Region, but globally. In addition to the more strategic use of public sector expenditure, Clyde Rebuilt’s Resource Mobilization Plan identified the need for public bodies operating in Glasgow City Region to adopt a more commercial mindset, and to foster innovation that could address private sector investment risks and support transformational adaptation measures. Doing this through a lab presents an opportunity to test and scale new financing models, with a particular focus on crowding in private sector finance which would include the participation of different actors across sectors and functions. More broadly, the lab creates a clear signal to the market of our intent to attract adaptation finance at the scale needed for the region and provides a clear point of contact for actors interested in this space to coalesce around, ensuring the financial system supports climate resilience, as well as the shift towards a green economy. Supporting and enabling mechanisms • Existing pipeline programmes – the Scottish Government and Glasgow City Region already have a a number of approaches to identifying programmes of investment, such as the Green Investment Portfolio and Green Growth Accelerator.

Supports delivery of the following Adaptation Strategy interventions 3 9

Key partners EIT Climate-KIC, Scottish Enterprise, Climate Ready Clyde, Regional Economic Partnership, all eight local authorities, Glasgow City Region, Skills Development Scotland, Scottish Government, Green Finance Institute, NatureScot, Adaptation Scotland, NHS Greater Glasgow and Clyde, NHS Lanarkshire


Made with FlippingBook - professional solution for displaying marketing and sales documents online