Innovative tax incentives for SMEs decarbonisation
London Borough of Sutton
Discover Sutton's innovative Green Enterprise Partnership, thought to be the world's first initiative to provide tax incentives for smaller, everyday businesses to embrace sustainability and transition towards a more prosperous and greener future. Sutton's pioneering model allows the Council to recover the cost of granting business rate discounts (commercial property tax) through a partnership fee, while effectively reducing the final rates bills of participating businesses by 70%. The GEP offers local governments in the UK an adaptable model for promoting green economic development, which can be tailored to fit the unique circumstances of each community. This makes Sutton's innovation an essential blueprint for policymakers aiming to support their local business communities to transition towards low-carbon economic models. Join us to explore the transformative potential of this initiative and gain valuable insights into driving a successful green economic transition.
Regions: European Union & Western Europe
Countries: United Kingdom
Cities: London
Cross-cutting issues: System Approach
Topical areas: Sustainable Production And Consumption, Finance
Partners: Academic institution, Philanthropic institution
Related steps
Set Goals and Targets
Develop Action Plan
Monitor and Report

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