NEWS: New funding available to improve the energy resilience of charities and social enterprises in England
Groundwork has partnered with Social Investment Business to launch blended funding for charities and social enterprises to invest into energy resilience and to make the transition to net zero.
The funding, which launched on Wednesday 6 November, is being offered to eligible charities and social enterprises which are based in and are delivering social and environmental impact in England.
The Energy Resilience Fund offers a package of energy audit support and blended funding – 60% loan and 40% grant. Eligible organisations can apply for blended funding of between £25,000 and £250,000 to install energy saving measures or energy generation technology to buildings or land, and/or to purchase energy efficient or environmentally friendly vehicles or equipment.
The Energy Resilience Fund could pay for a range of energy efficiency measures such as energy efficient lighting systems, insulation upgrades, glazing upgrades, small scale wind turbines, solar PV panel systems, battery storage systems, solar water heating systems, heat pumps and electric vehicles. The funds could also be used to pay for a wide range of related costs including capital costs, labour costs, project management costs, revenue losses and contingency.
Ensuring more charities and social enterprises have the financial and technological means to work toward net zero targets is key to sustainable development. It will also help many to manage the impact of rising costs, ensuring more resources for delivery. We’re pleased to be working in collaboration with Social Investment Business and the rest of the Energy Resilience Fund partners to deliver a greener future for our sector.
Graham Duxbury, Groundwork’s UK Chief Executive
Our research shows that the social sector is falling behind the private sector in improving its energy efficiency and there is growing urgency to act to address this imbalance. The scale and urgency of the challenge to transition to net zero is significant which is why social investment intermediaries are partnering together. We understand that implementing energy efficiency measures can be challenging and that is why this fund will be providing high quality energy audits and additional technical support and guidance to organisations alongside the funding that is needed.
Rob Benfield, Director of Grants and Investments for Social Investment Business
Notes to editors
For more information please contact: media@groundwork.org.uk
About Groundwork
Groundwork is a federation of charities with a collective mission to take practical action to create a fair and green future in which people, places, and nature thrive. We support communities and businesses to build capacity and resilience in order to tackle hardship, achieve a just transition to net-zero and help nature recover in a way that reduces inequality and leads to healthier, happier lives for all: www.groundwork.org.uk
About Social Investment Business
Social Investment Business believes in the power of the social economy to build a more equal society. Social investment is a way for charities and social enterprises to get the finance they need to fulfil their missions. Our investment supports charities and social enterprises to achieve their ambitions, become stronger, more sustainable organisations delivering social impact, and make a lasting difference to people’s lives.
We know that navigating the world of social investment can be challenging for charities and social enterprises, that is why we are here to help. We offer funding and flexible, adaptive support to organisations that make up the social economy, providing them with the support and tools they need to make a positive difference to the communities in which they work.
We work closely with our partners to support the ever-changing social economy by delivering grants and loans to charities and social enterprises on a large scale. We raise awareness of the value of the social economy, giving voice to the businesses we support and using our position to influence government, policy makers and funders.
About Energy Resilience Fund
The Energy Resilience Fund is funded by Better Society Capital, Access – The Foundation for Social Investment and Social Investment Business, and is delivered in partnership with Big Issue Invest, Charity Bank, Co-operative and Community Finance, GMCVO, Groundwork, Key Fund, Resonance, The Architectural Heritage Fund, The Ubele Initiative.
The Fund aims to provide blended finance to help charities and social enterprises bolster their energy efficiency.