Defra Announces £10 Million Fund to Drive Private Sector Investment in Nature
The Department for Environment, Food and Rural Affairs and the Environment Agency have launched a new £10 million fund to support environmental groups, local authorities, businesses and other organisations to develop nature projects in England to a point where they can attract private investment.
The Natural Environment Investment Readiness Fund will provide grants of up to £100,000 for projects including the creation of new woodlands and coastal wetlands, restoration of peatlands, providing habitats for wildlife, green spaces for the public and carbon sequestration.
The fund will help organisations get specialist advice, engage investors and build capacity to develop their project to the stage when it is ready to receive and repay investment.
Environment Minister Rebecca Pow said:
Our 25 Year Environment Plan made clear that while the public sector will continue to be a central source of funding, it is critical that this is alongside more private sector investment to protect and enhance our natural environment.
Investors are rightly recognising environmental factors as key drivers of value. As we look to build back greener from the pandemic, I would encourage any interested businesses, local authorities, eNGOs or other organisations to bid for a portion of this fund.
The fund will be delivered by the Environment Agency on behalf of Defra.