Oxford City Council is considering establishing a yearly £132,000 net zero transition fund to accelerate its journey towards net zero by 2030.
The council set an aim of achieving net zero emissions by the end of the decade in 2019 and following advice from scientific advisor Professor Nick Eyre and the Carbon Trust, is now looking to increase its carbon reduction efforts.
The proposed fund will enable the council to steer investment away form ‘green gas’ and offsetting towards actual carbon reduction measures across its estate.
Councillor Tom Hayes commented: “By taking this decision, we are helping to strengthen the global definition of net zero that is now emerging.
“We always said that we would listen to the science and act in line with what the experts are saying, so that our public can have confidence in our plans and join us in decarbonising.
“With the creation of a net zero transition fund of £132,000, we will be able to invest more in the deep decarbonisation that is needed for our council and our city.”