Launch of a new £ 5 million social enterprise fund to help the third sector decarbonise

Social Investment Scotland (SIS), in partnership with Zero Waste Scotland, has launched a £ 5million fund to help social businesses, charities and community organizations transition to a zero carbon footprint.

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

It will help organizations through activities such as waste reduction, energy consumption, transition to sustainable transport options and adoption of circular economy business models.

Managed by SIS, the fund will provide loans to successful applicants from £ 10,000.

Some small grants of up to £ 20,000 may be available, as part of a blended loan and grant offering, to organizations that have a particular focus on circular economy projects that offer new or additional activities of reuse, repair or rental and sharing, resulting in positive carbon benefits.

The Social Enterprise Net Zero Transition Fund is part of the Scottish Government’s £ 30million 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 minimization and reuse the first choice for the consumer.

Social enterprises wishing to apply for funding should visit the dedicated Net Zero Transition Fund for Social Enterprises web page.

Chris Jamieson, Head of Investments at SIS, said: “The Social Enterprise Net Zero Transition Fund will provide funding to support these ambitions, helping Scotland’s third sector adopt environmentally responsible practices while providing products and services. services to meet one of the greatest challenges of society.

Iain Gulland, Managing Director of Zero Waste Scotland, said: “To truly end our contribution to the climate crisis, we need to tackle overconsumption and move from an unnecessary linear economy to a circular economy.

“There are many social enterprises and charities in Scotland leading the way in imaginative and innovative ways to help us reduce the destructive impact of waste on our planet and achieve our net zero goals. But we know that financial obstacles can restrict their progress, or sometimes even prevent them from getting started at all.

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