Ahead of COP26, Glasgow pitches £30 billion climate investment prospectus

Glasgow City Council has launched a ‘Greenprint for Investment’ in a bid to attract £30 billion (US$40.5 billion) for projects to help meet the city’s goal of becoming net zero by 2030.

The international investment opportunities include a new metro system, an initiative to plant 18 million trees, a home energy retrofit programme across the city region, and an expanded district heating network.

The launch comes ahead of the COP26 UN Climate Change conference in November, which will bring the world’s leaders together in Glasgow to speed up action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.

Cllr Susan Aitken, Leader of Glasgow City Council said: “A core element of Glasgow’s Green Deal our ‘Greenprint’ brings together transformational, investable and shovel-ready projects. From an entire new transport system better connecting citizens to opportunities, generating renewable energy from the River Clyde and upgrading hundreds of thousands of homes across our city region, the Greenprint projects will deliver the infrastructure necessary for a low carbon, climate-resilient future.”

City demonstrator

The city said the projects are a mix of market-ready opportunities and some that are at earlier stages and could be co-developed with investors.

Other initiatives include a Climate Neutral Innovation District, an advanced manufacturing innovation district, and a fashion production ‘micro park’ using circular economy principles.

Aitken added: “All cities face huge change. Glasgow’s challenges are typical of those of so many of our global peers. As cities rebuild to decarbonise, we can be the demonstrator in shaping those solutions. The success of COP26 will be measured by how cities can take the practical steps necessary to secure the future of our planet. Our Greenprint provides a major part of our roadmap to doing just that.”