Local Net Zero Accelerator (LNZA)

The aim of the LNZA programme is to seek consultancy support to help WMCA design and deliver a financial 'mechanism/ model', which will enable private and public capital to be invested into "bundled portfolios" of Net Zero projects. This investment into multiple green projects across key sectors such as energy, housing and transport will help deliver the UK's climate targets. Furthermore, by combining multiple green projects across different sectors (rather than requesting funding for one-off, short-term projects), the LNZA project will make it easier to secure private/ public investment in a long-term, sustainable way. The deliverables for this contract are divided into two distinct phases and will culminate in a full options appraisal framework and set of recommendation(s) to the WMCA for establishing the optimal arrangement for attracting investment into the region's Net Zero projects. Phase 1 will entail undertaking an options appraisal of possible investment mechanisms for channelling funding into regional Net Zero projects and developing a shortlist of options which will then be taken forward for development. Phase 2 will involve creating detailed designs for every element of each shortlisted option, and then completing a full options appraisal, deciding which option to recommend, and preparing a decision-ready paper for the WMCA Governance body to consider.