£5m up for grabs
Net zero funding support for third sector businesses
Green roots: Reuben Chesters of Locavore
Social Investment Scotland (SIS), in partnership with Zero Waste Scotland (ZWS), has launched a £5 million fund to help third sector businesses, charities and community organisations make the transition to carbon net zero.
The Social Enterprise Net Zero Transition Fund will encourage waste energy reduction, transitioning to sustainable transport options, and the adoption of circular economy business models.
Managed by SIS, the fund will provide loans from £10,000. Some small grants of up to £20,000 may be available, as part of a blended loan and grant offer, to organisations with a particular focus on circular economy projects that deliver new or additional re-use, repair, or leasing/sharing activity, resulting in positive carbon benefits.
The loans are part of the Scottish Government’s £30m Third Sector Growth Fund, which was announced in March this year. It supports the ambitions of SIS, ZWS, and the Scottish Government, to make waste minimisation and reuse the first-choice option for the consumer.
Chris Jamieson, head of Investments, SIS said: “Scotland’s transition to a net zero economy requires bold and innovative solutions from every sector of our economy, including our social enterprise and third sectors.
“However, their ambitions are often constrained by the limited resources at their disposal.”