GLASGOW City Council and 3Ci (Cities Comission for Climate Investment) are entering the next phase of a programme to transform Govanhill into a net zero neighbourhood.
The joint project aims to create an actionable investment case for the area as a pilot net zero neighbourhood, with it building on Glasgow’s work to collaborate with investors to attract private funding into the city.
Govanhill was chosen due to its proximity to a district heating network opportunity, as well as its diversity of built environment and demand, and opportunities for retrofitting.
3Ci developed the net zero neighbourhood model to integrate local net zero projects into attractive investment propositions, creating scale and long-term certainty for investors by joining up the different types of assets that are important to decarbonisation.
This includes transforming transportation, energy, housing, and waste services in a coordinated way, using a blended finance model capable of attracting capital from banks, pension funds and other institutional investors.
Glasgow has been involved in the Net Zero Neighbourhood model since its inception, with Govanhill featuring in 3Ci’s net zero neighbourhood prospectus. Govanhill is characterised by a large volume of green spaces, as well as a dense arrangement of residential building types and tenures, and commercial units.
The area features as a strategic focus for housing-led regeneration in the city. Within Govanhill, the economic development area of Polmadie is showcasing a ‘notable increase’ in economic activity in the region, Glasgow City Council said.
The project is now entering the next phase to build the investment case for the area as a net zero neighbourhood. This phase includes considering the innovations required to transform the prospective area – from domestic retrofitting to electric vehicle infrastructure and district heating networks.
The objective is to create a comprehensive and compelling case for investment into the necessary net zero interventions, and to build practical and long term partnerships with private investors.
Councillor Susan Aitken, leader of Glasgow City Council, said, “Innovative approaches to Net Zero can make an incredible impact on the lives of residents in neighbourhoods like Govanhill. We are firmly committed to this next phase of work with 3Ci to explore new opportunities around heating, retrofitting and reducing carbon emissions and the benefits these bring to the everyday lives of citizens.”
Steve Turner, director of 3Ci, added, “When it comes to exploring new paths to net zero, Glasgow has been a UK-leading innovator from the start. Their commitment to further developing Govanhill as a pilot case for net zero investment showcases the strength and determination of Glasgow City Council to reach their decarbonisation targets.”
