Up to £1 million of innovation funding has been earmarked for businesses in Cornwall to support their development of technologies, products and processes in energy efficiency, power generation and energy storage ahead of the G7 Summit which starts on Friday.
The Department for Business, Energy & Industrial Strategy will provide £1 million of innovation funding for eligible projects in Cornwall through a future round of its Energy Entrepreneurs Fund.
The investment falls under plans announced by the Prime Minister to create a long-term legacy from the G7 Summit, which is billed as the first 'net zero G7 Summit'.
Tomorrow world leaders will gather in Carbis Bay in Cornwall for crucial discussions on world issues. Against the backdrop of the Cornish coast they are expected to agree action to tackle climate change, protect nature and lead a recovery from coronavirus that works for everyone across the length and breadth of our countries.
Separately, deals announced for Penzance, St Ives and Camborne worth over £65 million will fund projects at the heart of communities in some of Cornwall’s most deprived areas.
Other funding will go to sustain businesses and commercial sectors most badly hit by the coronavirus pandemic and to create new business hubs in the towns.
To reverse the decline in biodiversity and restore Cornwall’s natural environment the Government, in partnership with Natural England and the Cornwall Wildlife Trust, is launching a major land restoration and regeneration programme across 21,000 hectares of land.
These plans will ensure the beauty and biodiversity of Cornwall’s landscape is safeguarded for future generations and will establish the region as a role model both across the UK and around the world when it comes to looking after the natural environment. Reforestation and the restoration of wetlands through the project will take an estimated 440,000 tonnes of carbon dioxide out of the atmosphere.
To help Cornwall reach net zero faster the Government has also announced a package of measures to help individuals and companies take steps to reduce their carbon footprint. This includes:
- Establishing Cornwall as a pilot area for a new e-bike support scheme – e-bikes are the only electric vehicles not to receive grants at present.
- Subject to full business case approval Cornwall will also receive up to £150k to design and build ‘Kernosat’, a small satellite which will be used to monitor the local environment, with the potential for it to be launched from a UK spaceport next year.
As well as protecting the health and diversity of this beautiful part of the world, the creation of a nature recovery area and decarbonisation efforts will support local farming businesses, create hundreds of skilled green jobs and apprenticeships and boost local tourism – establishing a long-lasting green legacy from the G7 Summit.