finance

New five million pound social enterprise fund launched to help third sector decarbonise



Social Investment Scotland (SIS), in partnership with Zero Waste Scotland, has launched a £5m fund to help social enterprises, charities, and community organisations make the transition to carbon net zero.

The Social Enterprise Net Zero Transition Fund aims to support social enterprises and the third sector to reach carbon neutrality.

It will assist the organisations 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 and sharing activity, resulting in positive carbon benefits.

The Social Enterprise Net Zero Transition Fund is part of the Scottish Government’s £30M Third Sector Growth Fund, which was announced in March this year.

It supports the ambitions of SIS, Zero Waste Scotland, and the Scottish Government, to make waste minimisation and reuse the first-choice option for the consumer.

Social enterprises looking to apply for funding should visit the dedicated Social Enterprise Net Zero Transition Fund webpage.

Chris Jamieson, head of investments at SIS said: “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.”

Iain Gulland, chief executive at Zero Waste Scotland, said: “To truly end our contribution to the climate crisis we need to tackle overconsumption and switch from a wasteful linear economy to a circular one.

“Many social enterprises and charities in Scotland are leading the way with imaginative and ground-breaking ways to help us reduce the destructive impact of waste on our planet and meet our net zero targets. But we know financial obstacles can restrict their progress, or sometimes even prevent them from launching at all.”

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