£1M to support Net Zero ambitions of North East Scotland’s social enterprises
Social Enterprise Just Transition Fund opens for applications from social enterprises in the North East of Scotland.
A new £1M fund, administered by responsible finance provider Social Investment Scotland, has launched today aimed at helping charities, social enterprises and communities in the North East of Scotland who are supporting the region’s transition to net zero.
Aligned to the Scottish Government’s Just Transition Fund, The Social Enterprise Just Transition Fund (SEJTF) is open to funding applications from organisations in Aberdeen City, Aberdeenshire and Moray.
For organisations not based in any of these areas, the activity funded by SEJTF must be delivering an impact in one or more of these regions related to the objectives of the Fund. Organisations may apply for between £20,000 and £250,000 funding, split equally between loan and grant.
Funding applicants must demonstrate that they are able to deliver against at least one of the Scottish Government’s Just Transition Outcomes which include, for example, wealth and job creation, empowering communities through skills and education, and building resilience to mitigate the risks of climate change.
Just Transition Minister Richard Lochhead said:
“We are committed to accelerating the net zero transition of the North East and Moray recognising the need to pivot the strengths of the region, particularly in oil and gas, whilst capitalising on the opportunities presented by the on-going transition.
“We believe that the costs of the transition should be shared in a way that’s fair and equal, and the benefits of our economic growth are felt by everyone, including the most vulnerable in society.
“The Social Enterprise Just Transition Fund provides the opportunity for social enterprises in the region to scale up innovative projects and realise their ambition.
“I would like to thank Social Investment Scotland and everyone involved for all their hard work in designing and delivering this fund.”
Lindsay Wake, Head of Impact, at Social Investment Scotland said:
“In the face of a global climate crisis and ambitious, but vital, net zero targets, Scotland’s social enterprises and communities have an important role to play in meeting the broader challenge of transitioning to net zero. Communities in the North East of Scotland, which have historically had a strong reliance on the fossil fuels economy, face a particularly acute challenge as they move to decarbonise and ensure a sustainable future for their jobs and for the region’s prosperity. The Social Enterprise Just Transition Fund will provide these communities and organisations with the funding to develop initiatives and strategies to adopt more sustainable practices and, ultimately, help create a fairer, greener economy for us all.”
Organisations interested in finding out more information about the Fund and/or applying for funding should visit www.socialinvestmentscotland.com/learning-hub/social-enterprise-just-transition-fund/ .