Shift to Net Zero Phase 2 Pathfinder

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During Phase 1 of Shift to Net Zero we worked with four local authority (LA) partners (Essex, Surrey and Kent County Councils and Brighton & Hove City Council), undertaking extensive research, analysis and consultation to determine how the creation of a Net Zero Delivery Vehicle (NZDV) could be used to overcome the non-technical barriers to delivering local decarbonisation programmes and increase private investment into net zero solutions.The 3-month project identified two common critical barriers that are currently preventing LAs from accelerating the pace and scale of their net zero investment programmes:1. A lack of in-house skills, resources and capacity to manage and deliver large-scale net zero programmes (Barrier 1); And2. Difficulty in accessing appropriate finance for the projects and assets required to bridge the finance gap to deliver local net zero targets (Barrier 2)Barrier 1 will be addressed with the launch on the NZDV, which will help LAs to develop investment-grade business cases, engage with investors, access private finance, diligence, execute, and monitor net zero investments. However, the effectiveness of the NZDV in practice will be dependent upon overcoming Barrier 2 and initiating the cultural change that is required for LAs to deploy private finance, alongside traditional sources of public funding (e.g., CapEx, invest-to-save, or securing grants).'Shift to Net Zero: Accelerator' (Shift) focuses on addressing this barrier, identifying how we can build the capacity and capability of LAs to benefit from private finance to unlock, secure and accelerate the delivery of their local place-based decarbonisation programmes. Through a series of in-house training events, workshops and knowledge exchanges between places (and financial institutions to enable knowledge exchange between LAs and private sector lenders / investors) Shift will directly support 14 LAs that were involved in Phase 1 (either as Project Partners or Associate Group Members) to build their understanding of how private finance can be integrated into their funding models and strategies to achieve their local net zero targets.The Accelerator programme will comprise of capacity building and knowledge exchange across the participating LAs, **which cover a geographic area comprising over 15 million people** - or 26.6% of England's population. By focusing on a solution for Barrier 2, we will provide a clear pathway for the NZDV to be used by LAs in the future and mobilise the private finance that is needed to support local and regional net zero programmes.