What does this look like?
We will use innovative financial products to unlock good outcomes
Everything in this document will require investment – the estimate suggested as part of setting the WMCA Carbon Budget was 1-2 percent of GVA (roughly £2bn per year on average). How we create those investments matters: we want it to lower the cost of living, boost prosperity and to carry on recirculating through the places of the West Midlands.
Some of this will be about the levers of government: borrowing and taxation. But we can also work with financial institutions and investors to create products that unlock positive outcomes, whether it is a revolving loan for energy efficiency investment, a green bond to unlock sustainable urban drainage schemes or a co-operative share issue to deliver community-owned renewable energy system.