Potential for 2.5 billion cost savings across UK

Published:  16 June, 2009

 

The Secretary of State for Energy and Climate Change is calling on UK business to take advantage of 100m in new funding available to help companies become more energy efficient. The vast majority will be delivered in England through the Carbon Trust's existing interest-free loans scheme for companies to buy new equipment, which will now be expanded three fold.

It comes as new analysis by the Carbon Trust shows the 40 areas of the UK, which have the greatest potential to save business money by taking action on climate change. The Cost Map shows that collectively UK business could save over 2.5billion a year through cost effective carbon reduction measures, such as replacing old boilers or installing new lighting.

The 100m in new funding, announced in the Budget, is claimed will help businesses save more than 20m a year in energy bills, with annual carbon dioxide savings of 140,000 tonnes.

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%, while 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.

The regional Cost Map is based on Carbon Trust"s estimates of cost-savings that can be achieved by businesses across the UK following an in-depth analysis of data from external parties.

Ed Miliband, Secretary of State for Energy and Climate Change 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. British business is a global leader in the low carbon sector, but we must work hard to retain that leadership and realise the benefits of developing more sustainable business practices and low carbon technology. This is a central theme of the vision we launched in March for a Low Carbon Industrial Strategy and I welcome the work Carbon Trust is doing to advance this vital agenda.

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