Green business funding boost
A £6.6m green funding package has been announced for businesses in the North West on the same day that a Carbon Trust report shows firms in the region could collectively save £272.3m by becoming more energy efficient.
A £4.4m pot has been set aside to give businesses grants to make their businesses more energy efficient; while a further £2.2m will be given for research and development projects to encourage the development of carbon reducing technologies.
The Northwest Regional Development Agency is providing £3.3m, with matched funding from the European Regional Development Fund.
Bryan Gray, chair of the NWDA, will announce the funding, part of a package of £30m to help the North West tackle climate change, at the Prince of Wales’s May Day Business Summit on Climate Change, to be held at Manchester Airport.
On the same day, the Carbon Trust has published a map of research, which highlights 40 areas of the UK, including Liverpool, Manchester, Trafford and Ellesmere Port, which have the greatest potential to save business money by taking action on climate change.
It said that across the UK there could be £2.5bn in savings through measures such as replacing old boilers or installing new lighting, with £272.3m of that coming from the North West.
Ed Milliband, the secretary of state for energy and climate change, is calling on businesses to take advantage of £100m in new funding to help companies become more energy efficient.
He said: “Interest free loans totalling £100m over the next two years were announced in the Budget, and this real help, delivered by the Carbon Trust in England, means that businesses in every corner of Britain can now improve their energy efficiency and make real savings on their energy bills at a time when every penny counts.”
Most of this funding will be delivered through the Carbon Trust’s existing interest-free loans scheme for companies to buy new equipment, which will now be expanded three fold.
Tom Delay, Chief Executive of the Carbon Trust, said: “The additional funding for the Carbon Trust loans scheme means many more companies can take advantage of reducing costs by up to 20%, whilst also helping to reduce carbon emissions.
“Our new map analysis shows the massive opportunity businesses have to reduce their costs by reducing their environmental impact. We urge UK businesses to prioritise action on carbon reduction and to contact the Carbon Trust to find out more about the free loans and other support available to help.”
