That Cabinet:
a) close the capital schemes in relation to climate change and PV solar panels realising a saving of £414,341; and
b) invest £309,915 of the savings identified at a) in creating a new capital scheme in relation to the contribution to Nottinghamshire County Council for the two major, tree planting trees in the District.
Reasons for Decision:
In line with the objectives set out in the Community Plan, this is an opportunity to create 2 significant woodland areas in Newark & Sherwood and to offset some of our future carbon output. The schemes also protect and enhance the district’s natural environment and green spaces and reduce the impact of climate change.
Options Considered:
Newark & Sherwood does not currently hold sufficient land to be able to deliver schemes of the size and scale being suggested within this report. This is not a project we could deliver in our own right. We could choose not to allocate funding to the project and this would leave a funding gap for NCC to fill. This would be met in time through NCC selling carbon offsets and would mean the scheme is likely to come to fruition in Newark & Sherwood without NSDC support. However, we would not have played a direct delivery role which would be at odds with aspirations within the Community Plan and mean we would not be able to claim 30% of the carbon as future offsetting.