An investment of £8.8bn is required if Peterborough City Council is to achieve its net zero carbon emissions target by 2040, according to a council document.
The council is initiating the second phase of its Local Area Energy Plan (LAEP), which aims to accelerate carbon reduction efforts.
According to the LAEP, a capital investment of £8.8bn would save 4.3 million tonnes of CO2 cumulatively to 2050.
The ‘vast’ investment ‘necessitates that the city explores transformative approaches to project delivery, without burdening the public purse,’ according to a climate change scrutiny committee report.
The council says it will draw on innovative net zero schemes being implemented by other local authorities, such as Bristol City Council.
