The Carbon Trust: accelerating the move to a low carbon economy - House of Commons Papers 2007-08 7 (Paperback)Great Britain: National Audit Office (author)
Paperback 45 Pages / Published: 22/11/2007
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The Carbon Trust was set up in 2001 to take the lead on low carbon technology and innovation in the United Kingdom. Its aim is to accelerate the transition to a low carbon economy by helping organisations reduce their current carbon dioxide (CO2) emissions and developing commercial low carbon technologies. In 2006-07, the advice and financial support for measures to reduce carbon dioxide provided by the Trust resulted in an estimated reduction in CO2 emissions by its customers of between 1.2 million and 2.0 million tonnes, equivalent to a projected net financial saving of between GBP 222 million and GBP 359 million in future reduced energy costs.The Carbon Trust estimates that its work supporting the development of low carbon technology up to March 2007 could lead to an annual reduction of between 13.7 million and 20.7 million tonnes of CO2 by 2050. The Trust's support to commercialise emerging low carbon technologies could lead to further sizeable CO2 emissions reductions in the future. The Trust's support of such enterprises has encouraged the private sector to invest GBP 2 for every GBP 1 it has committed to its Innovation Programme and GBP 10 for every GBP 1 committed to its venture capital investments.On this basis, the Carbon Trust's advice to businesses has proved value for money and its Innovation Programme appears to be on course to do likewise. The Carbon Trust has worked with at least 12 per cent of companies with energy bills of over GBP 50,000 a year, but wider market penetration could generate greater reductions in carbon dioxide emissions.
Number of pages: 45
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