Peterborough City Council requires an estimated £8.8bn in investment to reach its net zero carbon emissions target by 2040, according to a council report.
As part of its commitment to cutting emissions, the council is launching the second phase of its Local Area Energy Plan (LAEP), which aims to accelerate carbon reduction efforts across the city.
The plan outlines that this level of investment could cumulatively save 4.3 million tonnes of CO2 by 2050.
Given the scale of funding required, the council is exploring new ways to deliver projects without placing additional financial strain on public resources.
A report from the climate change scrutiny committee emphasised the need for transformative approaches to achieve these goals.
Peterborough plans to take inspiration from innovative net zero strategies already being implemented by other local authorities, including Bristol City Council, as it works towards a more sustainable future.
