Putting Net Zero on the Balance Sheet

The Local Net Zero Hubs hosted a joint webinar setting out how local authorities can make Net Zero activities more appealing to decision makers and put climate change at the heat of their day-to-day operations, with a particular focus on the potential for carbon insetting.

The webinar formally launched new research from the North East and Yorkshire Net Zero Hub setting out options for placing a financial value on the carbon emissions of local authority investments and service delivery in terms of the potential impact of climate change on their communities and the future costs of decarbonisation – making it easier to make a case for Net Zero investments like renewable energy and nature-based solutions. The research will be used to inform a pilot project in the Hull and East Riding area.

The report sets out two possible approaches:

• Carbon Pricing, which includes the cost of carbon emissions – such as the impact to communities and businesses of the local effects of climate change – in the capital expenditure approval processes.
• Carbon Insetting, where funding for these projects or other climate change mitigation interventions could be secured through local authority procurement processes or operational budgets.

The report can be read below.