10 Aug 2021
Glasgow is seeking private investors to help fund a £30 billion “greenprint” for sustainable investment in the city as the COP26 climate summit comes closer.
In an exclusive interview, Council leader Susan Aitken told the Sunday Herald that the Council aims to take advantage of the focus COP26 will bring to seek backing for a range of projects that would turn Glasgow into a global green flagship city.
The “Greenprint for Investment” contains a series of projects that respond to the climate emergency, and it will be pitched to some of the world’s biggest financiers during the global event.
Glasgow has set a target to become carbon neutral by 2030. Scotland’s national target for all greenhouse gas emissions is net zero by 2045.
Councillor Aitken said: “For Glasgow and the city region, the race to zero is not about a theoretical future or high-minded good intentions about being green for green’s sake.
“It is a race for resilience – for safe communities, good homes, jobs, and a sustainable economy in the face of changes in our climate and environment that are already happening.
“Glasgow must not only consider what it can do as part of a global effort to slow and halt the destructive change in our climate, but how it needs to adapt to cope with the effects that are now unavoidable, or already with us. Both require investment on an unprecedented level – and well beyond anything available to any local authority through established sources.
“Every city will need to make its case for investment – and COP26 gives Glasgow the perfect opportunity to be ahead of the field.”
The two biggest projects will be building a Glasgow Metro system intended to support the transition to sustainable transport, and the retrofitting of homes across the region to upgrade insulation and utilise clean energy.
The retrofit will take an estimated 10 years and cost around £10bn. There are plans to use the River Clyde to provide clean heat for the city centre using renewable energy.
‘THE “Greenprint” also includes a Green M8 Cap – a new, connected urban environment created by constructing a “cap” over the motorway junction at Charing Cross, reprioritising streets for people.
There are also plans to expand the SEC with a shovel-ready project that would see the venue become one of the world’s most energy sustainable.
And the creation of a Clyde Climate Forest features plans to plant 18 million trees across the city over the next decade.
Other parts of the “Greenprint” include: