£5m to support Scotland’s charitable firms

AN action plan to help social enterprises and charities make the transition to carbon net zero will include £5 million of funding to boost growth and put the social enterprise model at the heart of Scotland’s recovery from the pandemic.

The Social Enterprise Net Zero Transition

Fund, launched by Social Investment Scotland (SIS) and Zero Waste Scotland (ZWS), aims to support social enterprises and the wider third sector through activities including waste reduction, energy consumption, and moving to sustainable transport options.

Managed by SIS, the fund will provide loans to successful applicants starting from £10,000. However, up to £20,000 may be available as part of a blended loan and grant offer to organisations with a particular focus on circular economy projects that deliver new or additional reuse, repair, or leasing/sharing activity, resulting in positive carbon benefits.

The new fund forms part of the Scottish Government’s £30m Third Sector Growth Fund, announced in March.

Chris Jamieson, head of investments at SIS, said Scotland’s transition to a net-zero economy required “bold and innovative solutions from every sector of our economy, including our social enterprise and third sectors”. He added:

“Their ambitions are often constrained by the limited resources at their disposal.

Many social enterprises and charities in Scotland are already adopting circular economy practices and solutions.

Glasgow-based ethical retailer Locavore helps customers reduce plastic consumption through package-free options and has also set out a target to be carbon negative by March 2023, through the use of electric delivery vans and green energy.