Carbon Trust welcomes new funding to provide loans to businesses and public sector  

23 April 2009
New funding to cut £40 million from the UK’s annual energy bill and deliver a quarter of a million tonnes of additional carbon dioxide savings a year  

Commenting on Wednesday’s budget, Tom Delay, CEO, Carbon Trust said:
“This budget is good news for carbon reduction. Moving forward we will work with Government to ensure that the funding announced delivers maximum carbon impact and good overall value for money for Britain.

The Government announcement today to provide the Carbon Trust with an extra £165 million of interest free loans to be made available to business and the public sector to expand existing energy efficiency programmes is most welcome. 

This loan initiative makes perfect business sense as it will deliver low cost carbon savings and drive significant overall cost savings for the UK economy. The additional £165 million of loans funding represents a four-fold increase in our current loans programme for the public and private sector. Overall it will cut £40 million from the UK’s annual energy bill and deliver a quarter of a million tonnes of additional carbon dioxide savings a year.

We can make the UK a global hub for low carbon innovation despite strong international competition. With limited public funding we must invest in technology areas where we have real strengths and commit to support these over time. Therefore, the decision on offshore wind to provide additional support is very welcome. 

Offshore wind is a great example of a proven technology worthy of focussed support to drive down costs. The winds blow hard around the UK, we’ve got experience of offshore engineering from the North Sea and we can lead the world offshore generating tens of thousands of new jobs in the process."

Case study examples of businesses that have received loans funding from the Carbon Trust are available on request.

For more information, please call the Carbon Trust press office on 0207 544 3100.

 
 

Notes to editors

  • The Carbon Trust is an independent company set up in 2001 by Government in response to the threat of climate change, to accelerate the move to a low carbon economy by working with organisations to reduce carbon emissions and develop commercial low carbon technologies.
  • We cut carbon emissions now by giving business and the public sector expert advice, finance and accreditation to help them reduce their carbon footprint and to stimulate demand for low carbon products and services.
  • Since 2001 we’ve helped UK business save over 17 million tonnes of CO2, and more than £1billion. These savings will double by 2011 as we give support and advice to even more UK businesses.
  • In 2008 alone the Carbon Trust supported half a million UK businesses, saving companies over £200 million from their annual energy bills and cutting up to 2.3 million tonnes of carbon dioxide from their annual emissions.
  • We cut future carbon emissions by developing new low carbon technologies
  • We are helping the UK become a global hub for low carbon innovation. We do this through funding and managing projects, investing and collaborating on low carbon technologies and by identifying market barriers and practical ways to overcome them. Our work on commercialising new technologies will save over 20 million tonnes of carbon a year by 2050.
  • The Carbon Trust is undertaking world leading projects on offshore wind, algae and advanced solar power.
 
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