Centrica's Ignite Fund
The UK energy industry will require more than £110 billion in new investments in technology and delivery models over the next decade as former power sources go offline. Securing access to energy for all in a significant social challenge: 2.28m British households now living in fuel poverty.
Centrica Plc launched the UK’s first impact investment fund with a focus on energy. The ‘Ignite Fund’ invests in energy related social enterprises that deliver commercial and social outcomes.
The fund enables Centrica to use its expertise to grow the impact of energy based social enterprises and identify and support new innovations to create longer-term solution to the UK’s energy challenge.
Still in the early stages of its investments, the fund has supported 150 young people not in education, training or employment to receive training in environmental behaviour change as part of the Global Action Catalyst programme, designed to improve employment opportunities, meet increasing demand for ‘green collar’ skills and support the transition to renewable energy.