Social Investment Scotland (SIS), in partnership with Zero Waste Scotland (ZWS), has launched a £5 million fund to help social enterprises, charities and community organizations make the transition to net carbon air.
The purpose of the Net Zero Enterprise Transformation Fund is to support social enterprises and the broader third sector in their journey towards carbon neutrality through activities including waste reduction, energy consumption, transition to sustainable transport options and adopt circular economy business models.
Managed by the SIS, the fund will offer loans to successful applicants starting at £10,000. A number of small grants of up to £20,000 may be available, as part of a loan and combined funding offer, to organizations specifically focused on circular economy projects that provide activity. reuse, repair or lease/share new or additional, resulting in positive carbon benefits.
The Net Zero Social Enterprise Transformation Fund is part of the Scottish Government’s £30 million Third Sector Growth Fund, announced in March this year. It supports the ambitions of SIS, ZWS and the Scottish Government, to reduce waste and make reuse the first choice for consumers.
Chris Jamieson, Head of Investment, SIS said: “Scotland’s transition to a netless economy requires bold and innovative solutions from every sector of our economy, including Social enterprise and our third sector. These organizations have an important role to play in ensuring that this transition is fair and just, given their potential for social and environmental impact. However, their ambitions are often constrained by the limited resources at their disposal. The Net Zero Social Enterprise Transformation Fund will provide funding to support these ambitions, helping Scotland’s third sector adopt earth-friendly practices while contributing products and services to address one of society’s greatest challenges. ”
Iain Gulland, CEO of Zero Waste Scotland, said: “To really end our contribution to the climate crisis, we need to tackle overconsumption and move away from a linear economy. waste to the circular economy. Many social enterprises and charities in Scotland are leading the way with innovative and imaginative ways to help us reduce waste’s devastating impact on our planet and achieve our goals. our unreal spending. But we know financial impediments can limit their progress, or even sometimes prevent them from launching. We are therefore delighted to be partnering with Social Investment Scotland to launch the Net Zero Social Enterprise Transformation fund – a way for us to finance, empower and enable these organizations to thrive as part of a vibrant circular economy. ”
Many social enterprises and charities in Scotland have led the way in adopting circular economy solutions and practices. For example, Community Transport Glasgow (CTG), is a charity committed to providing accessible, high-quality, door-to-door transport to vulnerable individuals and groups in Glasgow, transporting 75,000 passengers per year. CTG is in the process of replacing its entire fleet of diesel minibuses with electric vehicles.
Ethical retailer Locavore, based in Glasgow, also incorporates circular economic thinking into every aspect of its operations. The social enterprise not only helps customers reduce their plastic consumption by providing unpackaged options, but also sets a key goal of being carbon negative by March 2023, through the use of trucks. electricity, use green energy and commit to waste recycling.
Social enterprises who want to apply for funding should visit Social enterprise Zero net conversion fund webpage.
