It's no secret that local authorities are on the front lines of delivering local climate action but are stuck between a rock and a hard place with severe funding challenges, as well as capacity and skills gaps. With funding deficits, rising energy costs and an increase in weather-related catastrophes, the solution may lie closer to home, within our communities. 

 Amid distrust from constituents, councils are in a challenging fiscal environment—limited borrowing power because of high PWLB (Public Works Loan Board) rates and soaring costs across the board makes it difficult to deliver even core services. With PWLB underpinned by Gilt issuances, continued global instability and overdependence on international investment makes for expensive borrowing, while resilience can be built at home by growing local debt markets. English councils in particular have experienced drastic cuts to their funding since the 2010s, when spending on some services reduced up to 70%. The pressure for a solution is on as councils do their best to maintain services while repairing after flooding and storms.