Passmore & Passmore have supported the Biosphere Foundation to secure the largest green economy award from HM Government’s Community Renewal Fund. The record award of £1.37m will boost blue and green economy in the South West.
This will promote green growth and investment in the area while raising the well-being for local communities through nature-based solutions.
The £1.4m bid, the 6th largest award overall, will enable a new programme of work to create great jobs for local people in northern Devon at the same time as addressing the climate and ecological emergency. The CRF fund will be a big step forward in meeting this aim and will help our biosphere work towards its mission to stimulate the South West’s natural-based economy > 20% GDP by 2030.
The programme has two linked elements – the Green Biosphere, which focuses on woodland, regenerative agriculture and agritech; and the Blue Biosphere focused on offshore wind, aquaculture. marine biodiversity and ‘blue carbon’. Both elements have strong skills development and job creation elements as well as plans to redirect private investment into the area.
The programme will offer solutions for economic development and raise the well-being of local communities through innovative projects in nature – on land and at sea.
With 70% of Devon’s graduates leaving the county to find better employment elsewhere the CRF money will offer young people exciting job opportunities which will in turn help protect the local rural and coastal way of life AND address regions net zero ambition.
Devon’s richness will be translated into economic prosperity that addresses the climate emergency – including the incredible place we live
“It is excellent news that northern Devon’s £1.3 million Community Renewal Fund bid for the Blue & Green Biosphere Natural Capital Accelerator Bid was successful.” added Selaine Saxby, MP for North Devon, “This project will seek to enable a further £50 million of private sector investment into our environment and potentially create up to 1300 new jobs by 2026. I am confident that we can back up this positive announcement with further investment in North Devon in the future.”