What Has Climate Funding Achieved?

The government has revealed its Climate Change Fund has spent £8.5 million on Net Zero initiatives since 2022.

Chair of the Climate Change Transformation Board, DEFA Minister Clare Baber, listed several projects that are delivering measurable reductions in greenhouse gas emissions.

Responding to a question from Speaker Juan Watterson, Mrs Barber said: “Following the recognition of the Climate Change emergency in 2021 and the creation of the Phase One Climate Change Action Plan, Treasury established a Climate Change Fund in 2022.”

The listed achievements include:

• The Green Living Grant Scheme, costing £5.6 million, has achieved “3,300tCO2 saving per year” while delivering “£9.6mn investment into economy” and “consumer energy bill savings”
• Peatland restoration projects show “7,832tCO2 saving per year” with additional benefits including “natural flood management” and “improved raw water quality”
• The Woodland Grant Scheme has secured “1,124tCO2 (lifetime)” sequestration through tree planting

Mrs Barber noted that “80% spend from the climate change fund to date has been in people’s homes helping to reduce both emissions and energy bills”.

However, it was also cautioned that some initiatives remain in early stages.

“Many of the initiatives have an indirect benefit on emissions reduction as they involve preliminary research and feasibility assessments,” Mrs Barber explained, describing these as “enabling action which leads to an emissions benefit later.”