The Midlands Engine have created a survey to better understand the views of businesses across the Midlands.
The Midlands Engine are asking businesses to complete a survey to assess the demand for a new long-term green finance option.
They have been exploring new ways to bring investment into the region. One of the opportunities they are investigating is the creation of a ground-breaking new green finance facility or “Midlands Green Bond” which organisations across the region could access to deliver:
- Public sector real estate and infrastructure projects
- Private sector capital projects and service improvement
- Expanded provision of natural capital
In partnership with the UK Municipal Bonds Agency (UKMBA), they are undertaking a feasibility study, to consider a “Midlands Green Bond” programme, which would be a flagship vehicle for financing capital projects in the Midlands that meet specific ‘green’ criteria.
Through the Midlands Green Bond, the Midlands Engine proposes a new mechanism to support the funding of businesses’ capital expenditure on new, greener equipment and facilities through favourable long-term loans that suit both the long-term nature of the assets and the long lead times for those assets to generate a return on investment.
The purpose of this survey is to gauge the level of demand for such loans, confirm some of the barriers that businesses face in accessing green finance, identify assistance (if any) that businesses require in accessing cost-effective financing for green equipment and facilities, and to provide an opportunity for businesses to raise any other issue relevant to the proposed Midlands Green Bond.
For the purposes of this survey, “green” includes all capital expenditure that improves the environment or reduces environmental harm including: lower carbon emissions; reduced energy use or improved energy efficiency; green energy; increased recycling; improved treatment of wastewater; mitigating the impact of climate change; improved biodiversity; lower emissions of pollutants; and reduced use of hydrocarbons.
Although the priority of the Midlands Engine is decarbonisation, delivering other environmental improvements and green economic growth and jobs are also focuses.
Please note that this survey is being sent to self-employed people, sole traders, small, medium and large businesses and therefore some questions may not be applicable to your company, or you may wish to provide further information as appropriate.
Where possible, terminology is used that will be understood by all businesses, so please interpret as you feel fit e.g. for larger business with bonds outstanding, please treat these as synonymous with loans.
If anything is unclear, do get in touch with PFM, who are conducting this work on behalf of the Midlands Engine using one of the email addresses provided below.
If you have any questions regarding this survey, please contact: June Matte at mattej@pfm.com or Christian Wall at wallc@pfm.com.
For more information on the Midlands Engine, please see: https://midlandsengine.org/. Or contact: Josh Hawkins at josh.hawkins@midlandsengine.org.
Please submit your completed form to info@midlandsengine.org by Friday 27 October 2023.
