Appraisal of Carbon Negative Challenge Fund Capital Applications

Description

The CNCF is looking to unlock key challenges in reaching net zero by 2034 and carbon negative by 2040. The programme will build on the work achieved through Y&NY's £7m Net Zero Fund, and tackle particularly challenging areas to decarbonise and accelerate the implementation of York and North Yorkshire's "Routemap to Carbon Negative". The CNCF "Call for Projects" seeks to fund projects that will pilot future approaches to decarbonisation and open pathways for the region to reach carbon negative by 2040. The Fund seeks to support the development and delivery of projects that can unlock carbon savings, increase carbon sequestration, support climate adaptation and be innovative in nature; for example, trialling new approaches or technology, serving as a "demonstrator" project that others can be replicated, or projects that will enable systems change across the region. It is concluded that this is the most impactful way the fund can deliver for the region's ambition to reach carbon negative.