Social Investment Scotland (SIS), in partnership with Zero Waste Scotland (ZWS), has launched a £5 million fund to help social enterprises, charities, and community organisations make the transition to carbon net zero.
The Social Enterprise Net Zero Transition Fund is part of the SNP Government’s £30 million Third Sector Growth Fund, announced in March. It supports the ambitions the government shares with both organisations to make waste minimisation and reuse the first-choice option for the consumer.
The fund was set up to support social enterprises and the wider third sector in their journeys towards carbon neutrality through activities including waste reduction, energy consumption, transitioning to sustainable transport options, and the adoption of circular economy business models.
Managed by SIS, the fund will provide loans to successful applicants starting 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.
Kenneth Gibson MSP said:
“This £5 million fund is an excellent way to help social enterprises grow and explore new forms of social investment and finance. It will also help support the sector to meet the challenge of the pandemic and to become more sustainable in the long-term.
“I encourage any social enterprise in North Ayrshire to check out eligibility for this fund, which provides an excellent opportunity to go ahead with innovative and sustainable ideas they may not otherwise have put into practice.”
Chris Jamieson, Head of Investments at 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.
“These organisations have a key role to play in ensuring that this transition is fair and just, due to their ability to deliver social and environmental impact. However, their ambitions are often constrained by the limited resources at their disposal.
“The Social Enterprise Net Zero Transition Fund will provide finance to support these ambitions, helping Scotland’s third sector adopt earth-friendly practices while contributing products and services to address one of society’s biggest challenges.”
For more information, visit the Social Enterprise Net Zero Transition Fund website.
SIS will also be holding two free workshops which will take place on 7th December 13:00 – 14:00 and 13th December 12:30 – 13:30, for which registration links will be posted on the Fund page in due course.