North East Carbon Marketplace launched to get organisations backing regional projects

Plans for a North East Carbon Marketplace allowing that allows organisations in the region to offset carbon emissions by backing environment schemes have been revealed by regional mayor Kim McGuiness.

The system will allow organisations to invest in carbon saving projects in the North East Combined Authority area to offer more direct benefit to the region. It will first identify projects that are currently available for purchase through the voluntary carbon market and will later add newly verified projects, allowing funders to find schemes in their areas of interest.

The plan was announced at this week's Net Zero North East England Annual Summit being held in Gateshead. Around 300 delegates from across the region attended the event, which is a collaboration between local government, business, education, the public sector and civil society.

Ms McGuinness, who is also political co-chair of the Net Zero North East England partnership, said: “I made a commitment in my manifesto to deliver a North East Social Carbon Offsetting Network and to ensure we plant more trees than we cut down. The plans I have announced today will accelerate the delivery of net zero projects and deliver real social change across the North East.

“Once launched, the North East Carbon Marketplace will allow organisations to invest in regional projects ranging from tree planting, peatland restoration, and retrofit; to carbon saving projects with additional social benefits, like community energy schemes, nature-based flood defences, and marine habitat restoration. Their investment will help to accelerate the delivery of these projects, allowing them to go faster and further than they could have done without it.

“Our new North East Carbon Marketplace adds to the actions we have already taken to set our region on path to decarbonisation and make this the home of the green energy revolution. They include £9m to build plans to take Metro to Washington, £101m of improvements to bus services helping keep the cost of fares down and bringing new electric buses to our streets; and to support people to retrain and develop ‘green skills’ such as those needed for retrofitting and the offshore wind industry through our Skills Bootcamps.”

This week's Net Zero North East England Summit was the third annual instalment and featured programme with 65 speakers and 25 regional exhibitors. A keynote address on North East net zero efforts was delivered by Prof Richard Dawson, director of researchand iInnovation at Newcastle University's School of Engineering and a member of the Government's Committee on Climate Change. And TV architect George Clarke joined Ms McGuinness for a discussion about work to bring sustainability to the design and build sector, including through his charity MOBIE.

Other panel discussions covered green infrastructure, heat networks, community leadership for a just energy transition and green skills. Delegates were also offered field trips to net zero relevant projects in the region including North Tyneside Council's Killingworth operations depot which is said to be delivering 61% carbon reductions and Port of Blyth's Energy Central Learning Hub, which is developing STEM and vocation skills for the developing energy sector.

Heidi Mottram, CEO of Northumbrian Water and Net Zero North East England co-chair, said: “Building upon last year's summit, we have welcomed almost double the number of delegates and significantly expanded our exhibition area, enabling the enterprises that play a pivotal role in our net zero transition to showcase their work and network with others. The climate crisis demands a united, all-hands-on-deck approach, and that’s precisely what the Net Zero North East England partnership is here to foster: collaboration, innovation, and collective action.

"The success of this year’s summit speaks volumes about the momentum and enthusiasm for net zero in our region – and we know that the cost of inaction far outweighs the cost of action. I am confident the Net Zero North East England summit positions the North East as a leader in sustainable innovation.”

Organisations wanting more information on the North East Carbon Marketplace can sign up to receive updates via Net Zero North East.