Award

Local Investment in Natural Capital

WEST MIDLANDS COMBINED AUTHORITY

This public procurement record has 1 release in its history.

Award

19 Jul 2024 at 11:56

Award Notice
Summary of the contracting process

The West Midlands Combined Authority (WMCA) has completed a procurement process for the consultancy services related to "Local Investment in Natural Capital." The objective is to establish green finance investment platforms, develop investment-ready natural capital pipelines, and secure blended finance to attract investment towards environment-driven project opportunities in the urban West Midlands region. The procurement method used was an open procedure, with a contract value of £399,456. The tender period ended on 1st February 2024, and the contract period is from 20th May 2024 to 1st May 2025.

This tender by WMCA offers opportunities for consultancy organisations experienced in green finance, investment platforms, and blended finance to contribute towards innovative solutions for natural capital projects in the West Midlands region. Businesses with expertise in establishing regional investment vehicles, conducting market research, and developing natural capital finance strategies are well-suited to compete. The consultancy support required includes stakeholder engagement activities, market research reports, and the creation of a regional investment vehicle, among other deliverables, aimed at driving green finance initiatives in the region.

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Notice Information

Notice Title

Local Investment in Natural Capital

Notice Description

The West Midlands Combined Authority (WMCA) published its Natural Environment Plan (NEP) in September 2021. This was produced in collaboration with stakeholders from the public and third sectors and sets out the Authorities ambition to protect, enhance, and restore the natural environment across the West Midlands, for the benefit of the region's ecosystem, people, and communities. On the back of this NEP work, the WMCA was selected by Government as one of just four areas in the UK to deliver Local Investment in Natural Capital (LINC) programmes. These programmes are key elements in the Government's new Green Finance Strategy (2023) to support a green industrial revolution and transition the UK to a climate resilient, nature-positive, net-zero economy. The ambitions of the LINC programme are aligned with the WMCA's NEP, and this includes the need to explore new financial mechanisms (e.g., leveraging private sector finance, green bonds, climate bonds etc) to help attract investment towards environment driven project opportunities. The WMCA now requires consultancy support from an organisation(s) with significant knowledge and experience in establishing green finance investment platforms, developing investment ready natural capital pipelines/portfolios, and a track record in securing blended finance. This consultancy support is expected to provide innovation and knowledge generation that will help develop solutions to the problems outlined below- a) The WMCA geography is predominantly urban with a fragmented and limited land bank for large-scale natural capital schemes. b) Market research indicates investors are focusing on environmental projects of landscape-scale with multi-million-pound investment opportunities. c) Constituent Authorities are in significantly different states of readiness with regards to Biodiversity Net Gain (BNG). d) Lack of local governance arrangements and delivery frameworks. e) Lack of models, learning and evidence of 'what works' f) The few regional natural capital projects which are more "mature" in their development have already started their own journey to securing investment, but are struggling due to lack of scale, capability, and capacity. Upon completion of this contract the WMCA expect the appointed consultant to deliver the following outputs- I. Stakeholder engagement activities. II. A market research report. III. A regional investment vehicle/fund/platform. IV. A regional natural capital project pipeline and aggregation framework V. An options appraisal and roadmap VI. A natural capital investment prospectus. VII. A natural capital finance strategy. VIII. An investment in natural capital business case and growth plan. IX. Information architecture - data for pipeline, investment vehicle, and MRV purposes X. Pilot projects, case studies, and end of project report. XI. An engaged cohort of project owners, sellers, buyers, and investors.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6903cd7a-dc5d-48ec-a931-2e57995a5e1e
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1fac6b7d-2292-4622-b72d-779029c04a06
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£399,456 £100K-£500K
Lots Value
Not specified
Awards Value
£399,456 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
19 Jul 20241 years ago
Submission Deadline
1 Feb 2024Expired
Future Notice Date
Not specified
Award Date
8 Apr 20241 years ago
Contract Period
19 May 2024 - 1 May 2025 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
WEST MIDLANDS COMBINED AUTHORITY
Contact Name
Bhupinder Chadha
Contact Email
bhupinder.chadha@wmca.org.uk
Contact Phone
0121 214 7302

Buyer Location

Locality
BIRMINGHAM
Postcode
B19 3TR
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England)
Local Authority
Birmingham
Electoral Ward
Soho & Jewellery Quarter
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

FINANCE EARTH

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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