10/07/2011
06/03/2011
Carbon Trust and Siemens offer £550 million green finance
The Carbon Trust and Siemens have launched a joint partnership to provide £550 million to help UK businesses invest in low carbon technology over the next three years, the organisations announced on Friday. Siemens Financial Services will provide the finance and manage funding allocation while the Carbon Trust will offer its expertise in energy efficient technologies to assess the carbon energy and cost savings of any application. The new low carbon finance scheme is a first in the UK and will be open to all businesses from 4 April 2011. James Gearey, CEO of Siemens Financial said “ hundreds of millions of tonnes of carbon emission reduction that has been delivered through Siemens technology”. “A missing ingredient at present is access to affordable finance to enable business to make green investments. This new major finance facility will improve business competitiveness, cut carbon and boost green growth,” said Tom Delay, chief executive of The Carbon Trust. The initiative comes as Chris Huhne, energy and climate change secretary, set out the government’s plans on Friday for the move away from a dependence on fossil fuels. Huhne said the UK must act to shift its oil dependency to greener technologies to ensure a more stable, efficient low carbon economy.
Green investment bank to launch
Deputy Prime Minister Nick Clegg has told Liberal Democrat party members that the coalition government will launch a £2 billion green investment bank in its spending review on Wednesday.
The bank, originally hoped to have £6 billion of funds, aims to attracting private sector funds for the transition to a low-carbon economy.
Former Labour chancellor Alistair Darling originally announced the creation of a £2bn green investment bank and measures to support offshore wind energy in his budget in March earlier this year, which he billed as crucial to guiding the country out of recession.
Darling had said the green investment fund would "support thousands of extra jobs in these sectors".
The government is due to launch a comprehensive spending review at 12:30 p.m. British time, aimed at cutting the public deficit.
Details of how the bank will operate are expected to be left out of the chancellor’s spending review due to disagreements between ministers.
Carbon Trust and Siemens offer £550 million green finance
The Carbon Trust and Siemens have launched a joint partnership to provide £550 million to help UK businesses invest in low carbon technology over the next three years, the organisations announced on Friday.
Siemens Financial Services will provide the finance and manage funding allocation while the Carbon Trust will offer its expertise in energy efficient technologies to assess the carbon energy and cost savings of any application.
The new low carbon finance scheme is a first in the UK and will be open to all businesses from 4 April 2011.
James Gearey, CEO of Siemens Financial said “ hundreds of millions of tonnes of carbon emission reduction that has been delivered through Siemens technology”.
"A missing ingredient at present is access to affordable finance to enable business to make green investments. This new major finance facility will improve business competitiveness, cut carbon and boost green growth," said Tom Delay, chief executive of The Carbon Trust.
The initiative comes as Chris Huhne, energy and climate change secretary, set out the government's plans on Friday for the move away from a dependence on fossil fuels.
Huhne said the UK must act to shift its oil dependency to greener technologies to ensure a more stable, efficient low carbon economy.
02/03/2011
21/02/2011
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