Carbon Trust and Siemens offer £550 million green finance
The new low carbon finance scheme will be open to all businesses from 4 April and last three years
By CFOWorld.co.uk | CFO UK | Published 10:27, 04 March 11
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.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
FDs have demonstrated that even in a tough economy TMT businesses can still innovatemore ..
Taiwan took the coveted title as the overall winner for 7th time in the annual Deloitte rankingmore ..
CFOs at Dixons and UBM said the CIO was still overwhelmingly an IT-focused rolemore ..
Study finds just 25% rate mobile strategies as a top prioritymore ..
Can the right technology decisions bring CFOs better visibility?more ..
OPINION: CFOs and CIOs need to come together to get the challenge of IT maintenance under controlmore ..