Local Investment in Natural Capital

West Midlands Combined Authority · awarded 9 April 2024 · delivered in West Midlands

Who

Buyer	West Midlands Combined Authority Birmingham
Supplier	Finance Earth Ltd
Category	services
Classification	Financial consultancy services CPV 66171000
Notice published	19 July 2024

What it is for

The West Midlands Combined Authority (WMCA) published its Natural Environment Plan (NEP) in September 2021. This was produced in collaboration with stakeholders from the public and third sectors and sets out the Authorities ambition to protect, enhance, and restore the natural environment across the West Midlands, for the benefit of the region's ecosystem, people, and communities. On the back of this NEP work, the WMCA was selected by Government as one of just four areas in the UK to deliver Local Investment in Natural Capital (LINC) programmes. These programmes are key elements in the Government's new Green Finance Strategy (2023) to support a green industrial revolution and transition the UK to a climate resilient, nature-positive, net-zero economy. The ambitions of the LINC programme are aligned with the WMCA's NEP, and this includes the need to explore new financial mechanisms (e.g., leveraging private sector finance, green bonds, climate bonds etc) to help attract investment towards environment driven project opportunities. The WMCA now requires consultancy support from an organisation(s) with significant knowledge and experience in establishing green finance investment platforms, developing investment ready natural capital pipelines/portfolios, and a track record in securing blended finance. This consultancy support is expected to provide innovation and knowledge generation that will help develop solutions to the problems outlined below- a) The WMCA geography is predominantly urban with a fragmented and limited land bank for large-scale natural capital schemes. b) Market research indicates investors are focusing on environmental projects of landscape-scale with multi-million-pound investment opportunities. c) Constituent Authorities are in significantly different…

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