Defra and the Environment Agency announce new grants:

‘Innovative projects to restore and rewet peatlands, create green urban spaces and improve flood resilience are among 50 schemes to benefit from the final round of a pioneering fund to drive private investment in nature and tackle climate change.

The second round of the Natural Environment Investment Readiness Fund (NEIRF), announced by Defra and the Environment Agency, will provide grants of up to £100,000 to environmental groups, local authorities, businesses and other organisations to help them develop nature projects to a point where they can attract private investment.

The funding will help to develop projects so they can demonstrate a return on that investment by capturing the value of carbon, water quality, biodiversity and other benefits provided by natural assets such as woodlands, peatlands and rivers – with revenue generated through the sale of carbon storage, improvements in biodiversity, natural flood management benefits and reduced water treatment costs.

Examples of projects receiving funding in round two include:

• Developing a pilot seagrass carbon code to attract investment in seagrass beds as a carbon sink and biodiversity-rich habitat to facilitate agreements for the sale of carbon units.
• Exploring the potential for new natural surface water drainage schemes in Plymouth to unlock development by reducing flood risk, improving water management and climate resilience, aiming to attract investment from beneficiaries such as water companies and developers.

Further information on the Defra / EA announcement can be found here.

Separately, the Scottish Government have announced that Projects that support biodiversity and improve the health and wellbeing of local communities are set to benefit from further funding.

All local authorities, plus Scotland’s two National Parks, will receive a share of £6.5 million directly from the Scottish Government’s Edinburgh Process Fund – the second stream of the £65 million annual Nature Restoration Fund. £5 million has been allocated to local authorities to deliver projects that support the priority aims of the Fund: habitat and species restoration, freshwater restoration, coastal and marine protection and eradication of non-native species.

The Scottish Government press release can be read here.